BEIJING, March 25 (Xinhua) -- Tan Ruisong, former board chairman of Aviation Industry Corporation of China, Ltd., was on Wednesday sentenced to death with a two-year reprieve for graft.
Tan was convicted of embezzlement, accepting bribes, insider trading, and leaking inside information. The Intermediate People's Court of Dalian City in northeast China's Liaoning Province also ordered the deprivation of Tan's political rights for life and the confiscation of all his personal property.
From July 2003 to 2010, Tan took advantage of his position to illegally occupy public property, totaling 89.93 million yuan (about 13 million U.S. dollars), according to the verdict.
From 1998 to 2024, Tan also provided assistance to others in matters such as corporate mergers and acquisitions and project contracting, and illegally accepted property worth a total of over 613 million yuan.
From March 2012 to March 2023, Tan, as a person with knowledge of the relevant inside information, repeatedly engaged in securities transactions related to such inside information during the sensitive period for the inside information, according to the verdict.
He also repeatedly leaked inside information and explicitly or implicitly induced others to engage in securities transactions related to the inside information.
His embezzlement and bribery involved especially large amounts of money and caused especially significant losses to the interests of the state and the people. All his crimes should be punished according to law, the court said.
However, Tan truthfully confessed his crimes after being taken into custody, voluntarily disclosed offenses previously unknown to the authorities, showed remorse, and actively returned illicit gains, with all the embezzled funds and assets recovered. The court therefore gave him a lenient punishment, and the execution of the death penalty will be suspended. ■
