Jul 17, 2024 04:10 AM
BUSINESS
Former Energy Executive Sentenced to Life for Taking $13.8 Million Bribes
00:00/00:00
Listen to this article
1x
Subscribe now
Listen to the full version
Listen to the full version
Li Dong was found guilty of bribery charges by the Intermediate People’s Court of Yichun City, Jiangxi Province
Li Dong, a former deputy general manager of China’s state-owned coal mining and utility giant CHN Energy Investment Group Co. Ltd., was given a life sentence for taking bribes exceeding 100 million yuan ($13.8 million), a court said Tuesday.
Li, 64, was found guilty of bribery charges by the Intermediate People’s Court of Yichun City, Jiangxi Province. The former executive used his positions in state-owned energy giants Shenhua Group Co. Ltd. and CHN Energy between 1999 and 2023 to offer favors to others in product sales, coal procurement, business operations and job placements, in exchange for 108 million yuan in illegal gains, said the court.
You've accessed an article available only to subscribers
VIEW OPTIONS
Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.
Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.
- RELATED
Share this article
Open WeChat and scan the QR code
- DIGEST HUB
Digest Hub
Back
Explore the story in 30 seconds
- Li Dong, former deputy general manager of CHN Energy Investment Group, received a life sentence for taking over 100 million yuan ($13.8 million) in bribes.
- Between 1999 and 2023, Li used his roles in Shenhua Group and CHN Energy to engage in corrupt practices for personal gain, totaling 108 million yuan.
- CHN Energy is the world's largest coal producer, with 310,000 employees and total assets of 2.1 trillion yuan by the end of 2023.
AI generated, for reference only
Who’s Who
- CHN Energy Investment Group Co. Ltd.
- CHN Energy Investment Group Co. Ltd., founded in November 2017 from the merger of China Guodian Corporation and Shenhua Group, is the world’s largest coal producer, thermal power and wind power generator, and coal chemical producer. By the end of 2023, it employed 310,000 people with assets totaling 2.1 trillion yuan. Its coal production capacity was 665 million tons annually, with a power generation capacity exceeding 320 million kilowatts, and it operated 2,708 kilometers of railway.
- Shenhua Group Co. Ltd.
- Shenhua Group Co. Ltd. was a significant state-owned entity in China's coal industry before merging with China Guodian Corporation to form CHN Energy in 2017. It operated extensively in coal production and energy. Key units included Shenhua Group Zhungeer Energy Sources, known for one of China's largest open-pit coal mines. Li Dong, a former executive, misused his positions for corrupt activities, notably during his tenure with Shenhua.
- Shenhua Group Zhungeer Energy Sources Co. Ltd.
- Shenhua Group Zhungeer Energy Sources Co. Ltd. is a key unit of Shenhua Group, operating one of China's largest open-pit coal mines. Li Dong served as its chairman, using his position to influence coal procurement contracts and railway transport capacity for personal gain. The company also formed business partnerships, providing dedicated railway lines and favorable transportation deals in exchange for stakes or other benefits.
AI generated, for reference only
What Happened When
- 1999：
- Li Dong began using his positions in state-owned energy giants Shenhua Group Co. Ltd. and CHN Energy to offer favors to others in product sales, coal procurement, business operations, and job placements in exchange for illegal gains.
- November 2017：
- CHN Energy was founded following the merger of China Guodian Corporation and Shenhua Group.
- 2020：
- Li Dong retired from his position as deputy general manager of CHN Energy.
- February 2023：
- Li Dong was placed under a corruption investigation.
- August 2023：
- Li Dong was expelled from the Communist Party.
- By the end of 2023：
- CHN Energy employed 310,000 people and had total assets of 2.1 trillion yuan.
- January 2024：
- A state broadcaster CCTV documentary detailing Li Dong's corruption issues was released.
- 2024-07-16：
- Li Dong was given a life sentence for taking bribes exceeding 100 million yuan.
AI generated, for reference only
- PODCAST
- MOST POPULAR
Sign in with Google
Sign in with Facebook
Sign in with 财新