Former Jianlibao president jailed for 15 years

FOSHAN, Guangdong: The former president and CEO of the Jianlibao Group was yesterday jailed for 15 years for embezzling public funds.

Zhang Hai, 34, was sentenced by the local court after being found guilty of misappropriating 206 million yuan ($26.4 million), during his time with the company.

The Jianlibao Group, based in Foshan of South China's Guangdong Province, is one of the nation's leading sports beverage manufacturers.