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Former BAIC Group chairman Xu Heyi has been stripped of political rights for life and had all personal assets confiscated after being convicted of bribery and money laundering.
Former chairman of Chinese state-owned automaker BAIC Group, Xu Heyi, was handed a death sentence on Monday for bribery and money laundering, with a two-year reprieve, state broadcaster e reported, citing a Beijing court ruling.
The Beijing No. 3 Intermediate People’s Court also stripped Xu of his political rights for life and ordered the confiscation of all his personal assets, according to the ruling.
The court said Xu’s illegal gains would be recovered and turned over to the state treasury.
A death sentence with a two-year reprieve generally means the sentence can be commuted to life imprisonment or a fixed-term prison sentence if the convict does not commit an intentional crime during the reprieve period.
Xu previously served as chairman of BAIC Group, one of China’s major state-owned automobile manufacturers. The company has partnerships and joint ventures with several international automakers.
The case is part of China’s broader campaign against corruption involving executives of state-owned enterprises. Authorities have in recent years intensified scrutiny of senior officials and executives over bribery, abuse of power and financial misconduct.
The ruling did not immediately provide further details on the specific bribery amounts involved or the money-laundering transactions.
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