Beijing, Aug 08: A court in central China's Wuhan city has sentenced two top entrepreneurs to 15 and 10 years imprisonment respectively for embezzlement and bribery worth millions of yuan with speculation on the stock market, a report said today. Tong Shijian, board chairman of China's largest T-shirt producer, the Kangsai group, in central Hubei province, was sentenced yesterday to 15 years in prison on charges of embezzling, the report said.

Tong was found guilty of embezzling 15.8 million yuan (USD 1.09 million) and offering 375,000 yuan (48,000 dollars) in bribes in the name of his group, according to the Huangshi intermediate people's court, it said. Tong's 500,00033 yuan (60,204 dollars) of individual assets was also confiscated under the verdict issued by the court.
Zhang Jianping, vice board chairman of Kangsai, was sentenced to 10 years in prison, and had 300,000 yuan (36,144 dollars) confiscated, it said. The Kangsai group was also fined 500,000 yuan (60,204 dollars) for offering bribes, the report said.

Bureau Report