Caijing
Translated by Pang Lei
May 9, 2011
Original article: [Chinese]

Xiao Shiqing (肖時慶), the former Chairman of Galaxy Securities, one of China's largest and oldest securities firms, was handed a death sentence with a two-year reprieve after the Henan Province Higher People's Court found him guilty of accepting approximately 15.46 million yuan in bribes and making about 100 million yuan from insider trading.

Xiao was reportedly sentenced at the end of April, but media reports only emerged earlier today.

Xiao Shiqing, had also previously served as vice director of a department within the China Securities Regulatory Commission responsible for supervising listed companies.

Caijing reported that Xiao's case is related to that of Wang Yi, the former vice president of the China Development Bank, who was sentenced to death, also with a 2-year reprieve, in April last year on charges of accepting almost 12 million yuan in bribes between Nov 1999 and Feb 2008. Wang Yi had also previously served as vice president of the China Securities Regulatory Commission (CSRC).

Lei Bo, a former board chairman of Guojin Securities and also Wang Yi's former secretary when employed at the CSRC, was also sentenced on similar charges last year.

Wang Changlin, another former executive at Galaxy Securities, was handed a death sentence with a two-year reprieve for embezzling over 11 million yuan between 2002 and 2004, by the Beijing No. 1 Intermediate People's Court in March this year.

Links and Sources

Caijing: 原銀河總裁肖時慶因受賄和內(nèi)幕交易 終審被判決死緩 (Chinese)