Caixin
Aug 21, 2018 05:04 AM
POLITICS & LAW

Former Staffers of Guo Wengui Confess in Coercive Takeover

Guo Wengui. Photo: VCG
Guo Wengui. Photo: VCG

* Guo asked former vice state security minister Ma to threaten and force Minzu shareholders and potential bidders to yield to Beijing Zenith, prosecutors say

* The takeover of Minzu through coercive means brought Guo’s Beijing Zenith illegal gains of 11.9 billion yuan

Five senior employees of fugitive Chinese businessman Guo Wengui pleaded guilty to charges of coercion in a business deal and embezzlement Monday in a court in the northeast city of Dalian.

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