China: Ex Head of Sinopec Sentenced to More Than 15 Years in Jail for Graft
A Chinese court has sentenced Wang Tianpu, the former president of oil giant Sinopec Group, to 15 and a half years in prison for corruption, state media reported Tuesday.
The Nanchang City Intermediate People’s court in Jiangxi Province found Wang guilty of accepting bribes worth about 33.48 million yuan (US$ 4.9 million) and embezzling state-owned properties worth 795,934 yuan (US$ 115,667), Xinhua News Agency said.
The court also fined Wang 3.2 million yuan (US$ 465,035) and confiscated his illicit gains, Xinhua said.
"Wang's disciplinary violations severely contravene the core values of Sinopec," a company spokesman told Reuters. "The company has used his case to educate the employees.”
Wang is the latest high-profile executive to be jailed in President Xi Jinping’s extensive campaign against corruption since he came to power four years ago.