Three staffers of Guo Wengui's realty company convicted of loan fraud

China | 12 Jul 2017 3:05 pm

Three former executives of fugitive tycoon Guo Wengui's realty company pleaded guilty in court today and asked for leniency, state media reported.

Zhang Xincheng, Guo Lijie and Xiao Yanling, all former senior staff of Guo's Henan Yuda Real Estate Company, admitted assisting Guo in loan and bill fraud today at the Kaifeng Intermediate People's Court, the Global Times reported.

They expressed regret for their involvement and the harm they had caused to their families. Guo Lijie and Xiao were seen weeping in court. 

Zhang, 51, who served as chief financial officer of Guo's Henan Yuda Real Estate Company, said he got caught in this predicament because of ignorance of the law. (Pictured, the three accused in court)

"I blindly followed the orders of my boss Guo Wengui and my supervisor Ma Cheng. My role in this is minimal. I have cooperated in the investigation. I ask the court for leniency and an opportunity to rectify the situation," Zhang said in his final statement. 

Lawyers of the three also said that the defendants were simply following Guo's orders and were only accessories to the crime. 

The trial adjourned at around 10:50 am. The verdict will be announced later. Photo courtesy Global Times

Search Archive

Advanced Search
June 2019

Today's Standard

Yearly Magazine

Yearly Magazine