released February 10, 2021
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Chen Shulong, former vice-governor of East China's Anhui province, was sentenced to life imprisonment for bribery, abuse of power and insider trading, a court in East China's Fujian province said on Wednesday.
Chen was identified as taking more than 270 million yuan ($40.25 million) in bribes, according to the ruling announced by the Xiamen Intermediate People's Court.
All Chen's personal assets were confiscated and what he illegally gained will be turned over to the state treasury, the verdict said.
Chen said he would not appeal to a higher court.
From 1994 to 2016, Chen was found to have made use of his work positions, including manager of the Anhui Trust and Investment Co, vice-mayor of Hefei, Anhui, and provincial deputy governor, to help individuals and departments with employment promotions and then receive bribes in return, the ruling said.
Also, Chen abused power when he served as the Party Chief of Wuhu city in Anhui, which caused a financial loss of 2.91 billion yuan, it said.
Besides, Chen was charged with insider trading. As an insider privy to information related to companies, he did stock trading and illegally earned 137 million yuan, it said, adding he also disclosed insider information to others, who gained a total profit of more than 30 million yuan from the stock market.
Chen's behaviors constituted the crimes of bribery, abuse of power and insider trading under Chinese Criminal Law, the court said in the judgment.
"But given that he provided key clues to some other major cases, which were later proved true, pleaded guilty to his offenses and turned over his illicit gains, the court made the ruling with lenient punishment," it added.
Chen, 56, an Anhui native, began his career in provincial government in the late 1980s, He served in various key positions, such as vice- mayor of the provincial capital, Hefei, from September 2002 to December 2003.
He later worked in Wuhu until he became secretary-general of the provincial government in October 2011. He was vice-governor of Anhui from June 2012 to November 2016.
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