SHENZHEN, June 2 (Xinhua) -- Tong Daochi, a former senior official of south China's Hainan Province, was sentenced to death with a two-year reprieve on Thursday at the Shenzhen Intermediate People's Court in south China's Guangdong Province.
The court found that Tong, who was a former standing committee member of the Hainan Provincial Committee of the Communist Party of China and former Party chief of Sanya, took bribes and took part in insider trading. Tong had also held posts at the China Securities Regulatory Commission (CSRC).
Between 2004 and 2020, Tong took advantage of various positions he formerly held to assist others in matters including company listing, business operation, loans and promotions, and accepted money and goods worth more than 274 million yuan (about 41 million U.S. dollars) in return, according to the court.
When holding posts in CSRC between August 2006 and April 2007, Tong leaked sensitive stock information to relatives and associates, enabling them to profiteer from the stock market and making illegal profits totaling nearly 3.4 million yuan.
The court granted him a lenient punishment as he confessed, pleaded guilty and surrendered his illicit money and property, all of which have been seized and frozen.
The defendant was deprived of his political rights for life and had all of his personal property confiscated, the court said.
Tong said he accepted the sentence and would not appeal. ■