30 December 2018
A Chinese court sentenced Cai Xiyou, the former general manager of Sinochem Group, to 12 years in prison, state TV reported on Wednesday (Dec 26). Sinochem is one of the world’s largest chemical conglomerates. He pleaded guilty to the charges and said he would not file an appeal, the TV channel said. He was charged with taking up to $7.8 million in bribes to manipulate contracts and facilitate illegal sales and purchases of refined products during his time at Sinopec. Reuters reported.
He was also fined US$435,000, state news agency Xinhua reported. The court said it had given Cai a “lenient” sentence, since he had confessed all his crimes and cooperated in the investigations of other serious violations. He showed repentance and was cooperative in returning all his illegal gains, the court added.