China's former vice State Security Minister gets life for graft

Chinese former vice Minister of State Security Ma Jian was sentenced to life in prison on Thursday for taking bribes.

Ma was also punished for forced transactions and insider trading, the Intermediate People's Court of Dalian, Liaoning Province, announced.

From 1999 to 2014, Ma was found to have taken advantage of his various positions including vice Minister of State Security to help the fugitive Guo Wengui and Beijing Zenith Holdings, a company which was actually controlled by Guo, and accepted money and valuables worth over 109 million yuan ($15.8 million) personally or through his relatives.

During 2008 to 2014, Ma conspired with Guo and threatened, forced others to transfer shares, give up pre-emption rights or withdraw from specific business activities, making Beijing Zenith Holdings the official holding company of China Minzu Securities, Xinhua news agency reported.

Ma was also found to have instructed his relatives to buy and sell shares of the Founder Securities and earned 49.3 million yuan after he received inside information about a major asset reconstruction between Founder Securities and China Minzu Securities in 2013, the report said.

His political rights were revoked for life, while all his personal assets were confiscated.

Ma pleaded guilty in court and decided not to appeal.

The court said Ma was given a lenient sentence, given that he honestly and voluntarily confessed to his crimes, showed repentance, and was cooperative in returning all his illegal gains.

--IANS

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