Tycoon who bribed his way out jail

[BalanceOfPower]

Tycoon who bribed his way out jail

Shanghai Daily, February 25, 2014

Zhang Hai on trial at the Guangdong Provincial Higher People's Court, Sept. 27, 2008. (Photo/Xinhua)

Chinese authorities are looking for a former drinks tycoon who bribed his way out of jail and fled the country after being sentenced to 15 years in prison for embezzling millions of dollars in public funds.

Zhang Hai, former president and chief executive of the sports drink maker Jianlibao Group, was found guilty of misappropriating 206 million yuan (US$33.82 million) in 2007.

But through bribery and the fabrication of documents to prove his good behavior, Zhang was released in 2011 and promptly went overseas with his girlfriend Huang Lu, Xinhua news agency reported yesterday.

“Related departments are now trying to arrest and extradite Zhang and Huang,” Xinhua said, citing a statement from the state prosecutor’s office. Which country they are suspected of having gone to was not revealed.

A total of 24 people had been investigated or were being investigated in connection with Zhang’s release, including 11 in the judiciary and prison service, a court official and two lawyers, Xinhua said.

Four have already been jailed for up to six years, while Zhang’s reduced sentence has been revoked.

The Jianlibao Group, based in south China’s Guangdong Province, was one of the nation’s most prominent sports drink manufacturers and once ran a top-flight soccer club in Shenzhen.