BEIJING -- The former chairman of China's giant Shanghai Electric Group Co. Ltd., has received a suspended death sentence on graft charges.
A court in Jilin province sentenced Wang Chengming, who also once headed the Shanghai SVA (Group) Co., Ltd., for "participation in collective embezzlement and taking bribes," Xinhua news agency reported.
Wang and two other senior business executives were accused of pocketing about $40 million in a land transfer business in Shanghai, the report said. One of the executives was sentenced to life in prison while the other received a 15-year prison term, the report said.
China's Communist government has been cracking down on corruption throughout the country in recent months, handing stiff sentences to those convicted. They include the former party head of Shanghai who is on trial on embezzlement charges.
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