Six sentenced in Shanghai pension fund scandal
24 September 2007
Six people were sentenced to prison in cases related to the Shanghai pension fund scandal, the South China Morning Post reported. Zhu Junyi, who managed US$4 billion of Shanghai's pension fund, was given 18 years in prison for bribery, embezzlement and abuse of power. One of Zhu's deputies, Lu Qiwei, was sentenced to eight years for taking US$133,000 in bribes. Two executives at state-owned firms that benefitted from the social security fund were sentenced to life for accepting bribes, while two others were given three-year jail terms for bribing public officials. The trials were held in the northeastern city of Changchun instead of Shanghai to avoid interference. Shanghai's former party secretary, Chen Liangyu, was the most prominent person implicated in the corruption scandal.