Article 396 of the Criminal Law of the People's Republic of China, the crime of privately dividing state-owned assets; Crime of Privately Dividing Confiscating Property State organs, state-owned companies, enterprises, institutions and people's organizations, in violation of state regulations, collectively divide state-owned assets to individuals in the name of the unit. If the amount is relatively large, the directly responsible person in charge and other directly responsible personnel shall be sentenced to fixed-term imprisonment of not more than three years or criminal detention, and shall also or shall only be fined;

if the amount is huge, he shall be sentenced to fixed-term imprisonment of not less than three years but not more than seven years and shall also be fined.

if a judicial organ or an administrative law enforcement organ, in violation of state regulations, collectively distributes the confiscated property that should be turned over to the state to individuals in the name of a unit, it shall be punished in accordance with the provisions of the preceding paragraph.

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Li Yaoqi was sentenced to death for wantonly embezzling state-owned assets

On March 25, 22, Haikou Intermediate People's Court of Hainan Province publicly pronounced the corruption case of Li Yaoqi, the former chairman of Hong Kong-Macao International (Group) Investment Co., Ltd. and the former chairman of Hainan International Investment Group Co., Ltd. in the first instance, and convicted him of corruption, misappropriation of public funds and the crime of privately dividing state-owned assets.

The court found through trial that from October 1992 to July 1997, Li Yaoqi took advantage of his position and used various means to commit crimes alone or in collusion with others, embezzling, embezzling and misappropriating the assets of state-owned enterprises for his personal use in stock trading, investment and profligacy, of which the embezzled public funds amounted to more than RMB 61 million and HK$ 1.5 million.

The court held that Li Yaoqi, as the main leader of a state-owned enterprise, embezzled state-owned assets wantonly, and his actions constituted the crime of corruption, embezzlement of public funds and the crime of privately dividing state-owned assets respectively, and the amount of corruption was extremely large and the circumstances were particularly serious. Therefore, Li Yaoqi was sentenced to death for corruption, deprived of political rights for life and confiscated all his personal property.

sentenced to 12 years in prison for embezzlement of public funds; He was sentenced to 4 years in prison for the crime of privately dividing state-owned assets and fined RMB3,; Decided to execute the death penalty, deprived of political rights for life, and confiscated all personal property.

Reference: Wenxian Public Security Bureau's "internet plus Policing" online service platform-People's Republic of China * * * and People's Network of China's Criminal Law

-Li Yaoqi was sentenced to death for wantonly embezzling state-owned assets.