Ex-official sentenced to jail term of 20 years

Zhou Chunyu, a former vice-governor of Anhui province, received a jail term of 20 years and a fine of 361 million yuan ($53.7 million) for graft at a local court on Friday.

The 50-year-old was convicted of taking bribes, concealing overseas deposits, abusing power and insider trading, according to a verdict handed down by the Jinan Intermediate People's Court in Shandong province. Zhou decided not to appeal.

According to the verdict, Zhou took advantage of his positions in various posts, including deputy director of the Anhui provincial finance department and mayor of Maanshan and Bengbu cities in Anhui, to benefit others in enterprise acquisition and bidding for projects, and accepted bribes worth about 13.6 million yuan from 1996 to 2017.

When Zhou worked as Party chief of Bengbu city, he concealed the fact that he deposited $4.12 million in overseas banks and didn't report it to the Party as required. While mayor of Bengbu, Zhou violated regulations and decided to give a 665 million yuan land-transfer fee back to a local company that had bribed him, causing a great loss to the national interests, the verdict said.

The court also affirmed that Zhou gained 359 million yuan in insider trading while working in Maanshan and Bengbu. He made the illicit gains by purchasing 271 million yuan of stocks after getting confidential information about several listed companies.

Zhou was given a lenient sentence considering that he voluntarily confessed his crimes and reported some criminal facts unknown by investigators. He also expressed remorse and proactively returned illicit gains.

The top anti-graft watchdog launched an investigation into Zhou for "serious violations of Party discipline" in April 2017. He was expelled from the Party and removed from public office. His case was first heard at the end of October.

More than 100 people, including lawmakers and journalists, attended the hearing on Friday.