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CHINA / Regional |
Trial of F1 boss delayedBy Cao Li (China Daily)
Updated: 2007-08-17 07:09 SHANGHAI: The first hearing in the embezzlement trial of Yu Zhifei, the former boss of China's Formula 1, was postponed yesterday by a court in Anhui Province because the defendant plans to call witnesses. Wuhu Intermediate People's Court has not announced a new date for the hearing. Yu was formerly the boss of the State-owned Shenhua Group, which sponsored Shanghai Shenhua Football Club. He later became the boss of Shanghai International Circuit Management Development Co. Yu is one of the senior officials and business heads that were implicated in the 3.4 billion yuan ($447 million) social security fund scandal, which led to the arrest of Shanghai's former Party chief, Chen Liangyu. However, Yu's indictment does not directly connect him to the scandal. It alleges that he embezzled 1.05 million yuan from the football club and a trading company under the Shenhua Group to buy himself a house. It also alleges that he confessed his wrongdoings and has sought a lenient sentence. In 1997, the Shanghai Huangpu District Government approved Yu's request to have his company buy him a house. Before 1999, employees of government and State-owned enterprises were given houses or compensated. Yu allegedly found a 2.34 million yuan apartment, but claimed it cost 1.18 million yuan, according to Anhui Business Daily. The paper said Yu was worried that having an expensive residence would affect his reputation. After the company gave him the 1.18 million yuan, he allegedly embezzled 800,000 yuan on one occasion and 250,000 yuan on another to pay for the apartment. He was asked to assist the investigation of the scandal last October and was arrested later. The first hearing was scheduled yesterday at 3:30 pm. But the Wuhu Intermediate People's Court told the assembled media that Yu's lawyer said they had found a new witness and requested to postponement. According Chinese practice, major cases that involve senior officials are tried in other places to avoid political influence. Other suspects in the case are standing trial in Anhui and Jilin provinces. They include Chen Chaoxian, former district chief of Shanghai's Changning District and Wu Minglie, president of New Huangpu Group. (China Daily 08/17/2007 page4) |
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