Investigators looking into Shanghai's pension fund scandal have
made an "important breakthrough" and finished their probes into
most of the people involved, the Legal Daily reported
today.
The Jilin People's Procuratorate was assigned by Supreme
People's Procuratorate of China to investigate the case, and the
Jilin People's Higher Court is preparing to hold trials, the report
said.
Shanghai launched an anti-corruption campaign last August with
investigations into misuse of the city's pension fund, which have
already implicated many government officials and company
executives, including former Shanghai Party Secretary Chen Liangyu
and the former head of Shanghai's biggest soccer club and Formula
One circuit Yu Zhifei.
Chen is in jail awaiting trial on corruption charges, Gan
Yisheng, secretary-general of the Central Commission for Discipline
Inspection of the Communist Party of China, said early last
month.
Chen was expelled from the Communist Party of China and
dismissed from all government posts in July for his alleged
involvement in the pension fund scandal.
Chen allegedly misused his power to support the Shanghai
Municipal Bureau of Labor and Social Security in illegally granting
huge loans from the Shanghai social security fund to private
companies.
(Shanghai Daily September 10, 2007)