Ex Chairman Of China’s Oil Firm Jailed For Corruption
Former head of China’s biggest oil firm, China National Petroleum Corp. (CNPC), has been sentenced to 16 years in prison for corruption. Jiang Jiemin, was tried in April for taking bribes and abuse of power. A court based in the province of Hubei convicted him of bribery after finding that he had collected more than 14 million yuan ($2.2 million) in assets, which he could not explain the origin of.
Jiang accepted the sentence, telling the court that he would not appeal the verdict. About 1 million yuan (USD $157,600) have been confiscated from the former chairman after he failed to explain how he got such a huge amount.