The first instance trial of Zhao Weiguo, the former chairman of Tsinghua Unigroup , for embezzlement, illegal profit-making for relatives and friends, and breach of trust to harm the interests of listed companies has begun.
Xinhua News Agency, Changchun, September 28, 2023. On September 28, 2023, the first instance of the Intermediate People's Court of Jilin City, Jilin Province opened in public to hear the case of Zhao Weiguo, the former chairman of Ziguang Group, of corruption, illegal profit-making for relatives and friends, and breach of trust to damage the interests of listed companies.
The Jilin Municipal People's Procuratorate alleges: From 2018 to 2021, the defendant Zhao Weiguo took advantage of his position as chairman of Ziguang Group to conspire with a specific person Li Luyuan, and the company actually controlled by Li Luyuan purchased at a low price what should have been purchased by Ziguang Group. Tongzhou Business Park project real estate, obtaining real estate premium benefits, and illegally occupying more than 470 million yuan in state-owned assets. From 2014 to 2021, Zhao Weiguo took advantage of his position as chairman of Ziguang Group to hand over the profit-making business of his unit to Li Luyuan and other specific related parties, or to purchase agency management from companies managed by Li Luyuan at prices significantly higher than the market price. services, causing direct economic losses to the country of more than 890 million yuan. In 2019, Zhao Weiguo also instructed directors of the listed companies he actually controlled to lease company projects to companies actually operated by Li Luyuan at prices significantly lower than the market price, causing the listed company to suffer a loss of more than 46.45 million yuan. The procuratorate requested that Zhao Weiguo be held criminally responsible for corruption, illegal profit-making for relatives and friends, and breach of trust and harming the interests of listed companies.
During the trial, the procuratorate presented relevant evidence, and the defendant Zhao Weiguo and his defender conducted cross-examination. The prosecution and defense fully expressed their opinions under the auspices of the court. Zhao Weiguo made a final statement and expressed his guilt and repentance in court.
At the end of the trial, the court adjourned the trial and announced the verdict at a later date. More than 20 people representing people from all walks of life attended the trial.