A GOVERNMENT official admitted in the Shenzhen Intermediate People s Court on Saturday that he had taken bribes of 2.125 million yuan (US$324,500) from companies and individuals.
Xue Peng, former director of the foreign trade management department of the city commission of science, industry, trade and information technology, said he felt remorse for what he had done and would accept his punishment.
According to the court, Xue, 48, obtained a 45 percent share of Zhipengcheng Co. Ltd. using the name of his sister-in-law in 2003. He did not invest in the company nor become involved in its operations, but used his influence to help the company make big profits. From February 2005 to July 2010, another shareholder of the company surnamed Feng had given him about 1.365 million yuan in shares for his help and support.
Xue said he had invested about 800,000 yuan of borrowed money to found the enterprise with Feng. I pulled some strings for the company, but I did not do anything illegal, he said.
Another company, Anhong Co. Ltd., also gave Xue shares worth about 600,000 yuan in thanks for his help. I introduced some clients to the owner and used my connections in the Customs department to help speed up approval procedures, so [the owner] gave me 10 percent of the shares as thanks, Xue said.
The court is yet to hand down its decision.
(Wang Yuanyuan)
