finance

Former Sinochem manager sentenced to 12 years for graft: state media


FILE PHOTO: A man walks out of an office building of Sinochem in Beijing, China February 21, 2017. REUTERS/Damir Sagolj

BEIJING (Reuters) – A Chinese court sentenced the former general manager of Sinochem Group to 12 years in prison, state TV reported on Wednesday.

Cai Xiyou, who headed one of the world’s largest chemical conglomerates, was put under investigation in 2016. He pleaded guilty to the charges and said he would not appeal, the TV channel said.

Cai was appointed to lead Sinochem in 2014 after a long career at China Petroleum and Chemical Corp (Sinopec) (600028.SS) where he was previously a Communist Party committee member, senior vice president, and Sinopec Corp’s general consul.

Reporting by Meng Meng and Beijing Newsroom; Editing by Robin Pomeroy



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