Yun Gongmin, former CEO and deputy secretary of the party committee of China's Huadian State Electricity Corporation, has been sentenced to death for taking bribes. The corresponding decision was made on Thursday by the Intermediate People's Court of the city of Changchun (northeastern province of Jilin), TASS reports with reference to China Central Television.
The verdict against the former official was issued with a two-year suspension of execution. The court also ordered that Yun Gongmin be deprived of political rights for life, as well as confiscate all personal property. After two years, according to the court statement, the death penalty in accordance with current legislation will be replaced by life imprisonment.
The former official was found guilty of using his official position for personal gain. The investigation revealed that Yun Gongmin received bribes in cash and property to assist third parties and organizations in obtaining construction contracts, as well as to help promote government officials. The total amount of bribes was 468 million yuan (about $70 million).
Huadian Corporation is one of the top five power producers in China. In the Chinese market in this segment, it occupies about 10%. The corporation has projects in Russia as well. Its headquarters is in Beijing.
In 2018, a corruption scandal occurred in one of its subsidiaries, Huadian Engineering, which is mainly engaged in the development and production of electrical power equipment. At that time, an investigation was also launched against its former CEO, Ho Lee, on suspicion of breaking the law and improper performance of official duties.
