The president of Kunming Pan Asia Nonferrous Co., Ltd. was sentenced to 18 for illegally absorbing deposits.
On March 22nd, the Intermediate People's Court of Kunming City, Yunnan Province held a public hearing, and sentenced four defendants, including Kunming Pan Asia Nonferrous Metals Exchange Co., Ltd. (hereinafter referred to as Kunming Pan Asia Nonferrous Metals Exchange) and 2 1 defendant, including Shan Jiuliang, in the first instance. For the crime of illegally absorbing public deposits, Kunming Pan Asia Nonferrous Metals Co., Ltd. was fined RMB/kloc-0.0 billion yuan, and three defendants, including Yunnan Tianhao Rare Company, were fined RMB 500 million yuan and RMB 50 million yuan respectively. The defendant, Shan Jiuliang, was sentenced to fixed-term imprisonment of 18 years for the crime of illegally absorbing public deposits and duty embezzlement, and his personal property was confiscated 50 million yuan, and he was fined 500,000 yuan. Investigate the criminal responsibility of 20 defendants, including,, and Yang.
The Kunming Intermediate People's Court found through trial that from October 2011year 10 to August 20 15, Shan Jiuliang, chairman and general manager (president) of Kunming Pan Asia Nonferrous Co., Ltd., the defendant, negotiated and planned with Guo Feng and Wang Biao who violated the national financial management regulations. Kunming Pan Asia Nonferrous Metals Co., Ltd. illegally absorbed huge public deposits, causing huge economic losses to fund-raising participants. In addition, the court also found out the fact that the defendants Shan Jiuliang and Yang took advantage of their positions during the management of Kunming Pan Asia Nonferrous Metals Co., Ltd. to illegally take the property of their own units individually or jointly.
After the incident, the public security organs made every effort to recover the assets involved and sealed up, detained and frozen the metals and other property involved in the case according to law. The recovery of the property involved is still in progress. The recovered assets shall be handed over to the executing agency, and the illegal income shall continue to be recovered and returned to the fund-raising participants in proportion. According to the legal and judicial interpretation, when the property penalty is executed in this case, the loss of the fund-raising participants takes precedence over the execution of the fine penalty.
The Kunming Intermediate People's Court held that four defendants, including Kunming Pan Asia Nonferrous Metals Co., Ltd. and 2/kloc-0 defendants, including Shan Jiuliang, violated the national financial management regulations and absorbed public deposits in disguise, amounting to a huge amount, which constituted the crime of illegally absorbing public deposits; Defendants Shan Jiuliang and Yang took advantage of their positions to illegally take the property of their own units for themselves, and the amount was huge, which constituted the crime of occupational embezzlement and should be punished according to law. The court made the above judgment according to the facts, nature, circumstances and social harm of each defendant unit and defendant.
More than 20 people, including relatives of the defendant, some fund-raising participants, deputies to the National People's Congress, members of the Chinese People's Political Consultative Conference, the news and the masses, attended the verdict.