Zhu Xiaohua, the former head of China Everbright Group, was sentenced to 15 years in prison for corruption, Xinhua reported. Zhu's personal assets will also be seized. The sentence was awarded after he had been convicted for accepting bribes worth Yn4m between 1997 and 1999 while at the head of China Everbright. He received a relatively light sentence because he changed his plea to guilty and confessed to bribe-taking that had not previously been uncovered.
A former protegeof Premier Zhu Rongji, Zhu Xiaohua was appointed head of China Everbright in 1996 after holding senior positions at the central bank and as a foreign exchange regulator, South China Morning Post said. He was under house arrest for three years before being charged, during which time his wife committed suicide.