A leading Chinese oil executive was sentenced to death for embezzling nearly 37 million yuan (4.6 million dollars) and accepting another 4.8 million yuan (600K dollars) in bribes, state press reported Saturday.Li Rongxing, former head of the Daming Group, was sentenced to death with a two year reprieve by the Taian city intermediate court in eastern China’s Shandong province on Friday, Xinhua news agency reported.
The two-year reprieve means that Li’s sentence will likely be commuted to life in prison.
Any chance of getting Lay and Skilling another trial in China?
Now that’s corporate responsibility. What’s the two year reprieve all about though? Smoke and mirrors giving him plenty of time to flee the country?
Wow…all of those Enron and Worldcom execs should have had their trials in China! That’s justice right there that the U.S. democracy should have, unless it wasn’t a fair trial and Li is actually innocent…
As an old China-watcher, economic crimes have always been considered more severe than in the West. It’s not so unusual for a death sentence to be imposed — or carried out. It’s also common with drug dealers [not users].
If the government is pushing for the death sentence, the stay is a few months for appeal — which, in iffy cases, can be won. A few months is what’s allowed to say “goodbye” to family. In some cases, like this one, the 2- year stay means they’ll settle for life in prison — after appeal.
You have to understand that — like in Europe — long sentences, 15 years plus, are rare. Life really means “life”.
But, that’s not why I put up the post. I happen to agree that the severity of an economic crime isn’t appreciated by US courts — say, given the thousands of people who suffered from the actions of the Enron creeps — and deserves more stringent sentencing than our jurisprudence allows.
I’m willing to bet there are a lot of Americans who would like to see Skilling and Lay start doing time while they’re playing out legal gamesmanship with their leftover Enron dollars.
I would rather see Lay and Skilling in jail for life but NOT in club Fed. Something like Attica. Regular reports from Bubba about his B!#hes would be justice.
As traditionally corrupt as the petroleum industry has been, this executive would probably qualify for sainthood by western standards. It takes practice to learn sleight of hand.
That’s what I’m talking about!
What is really accomplished by throwing these bums in prison? Doesn’t it make better sense to seize every asset they have for reparations and leave them penniless and to the mercy of the world? If they refuse to cough up those off shore accounts and sheltered funds, then dump them in Leavenworth. They’ll pay up in a few weeks.
Of course, keep in mind that since this is China, there’s no way to know if the guy was really guilty or just had something the government wanted.
“Of course, keep in mind that since this is China, there’s no way to know if the guy was really guilty or just had something the government wanted.
Comment by adam — 5/31/2006 @ 6:05 pm”
If the US government wanted you dead, they could accuse you of treason or something and then make you “disappear”
yeah ranron….that happens everyday here.
10,
NAH, accuse you of child molestation, and MOST neibhorhoods work do it, for them…
Maybe we wouldn’t have build a trillion dollar wall if America executed a few executives for hiring illegals. 😉
yeah ranron….that happens everyday here. Maybe it does, maybe it doesn’t. How the hell would YOU know?