Chen Shulong, a former vice-governor of Anhui province, was sentenced to life in prison for bribery, abuse of power and insider trading by a court in Fujian province on Wednesday.
Chen was convicted of accepting more than 275 million yuan ($41 million) in bribes, in a ruling announced by the Xiamen Intermediate People’s Court.
All of his personal assets were confiscated, and what he illegally gained will be turned over to the state treasury. He was also fined 170 million yuan, according to the verdict.
Chen said he would not appeal to a higher court.
From 1994 to 2016, Chen was found to have made use of his work positions – including manager of Anhui Trust and Investment Co, vice-mayor of Hefei, Anhui, and provincial deputy governor – to help individuals and departments with employment promotions and to have accepted bribes in return, the ruling said.
Chen also abused his power when he served as Party secretary of Wuhu, Anhui, and caused financial losses to the government of 2.9 billion yuan in various illicit property transactions, it said.
In addition, as an insider privy to information related to companies, he traded shares and illegally earned 137 million yuan through the insider information he accumulated, it said. He also disclosed the privileged information to others, who gained total profits of more than 30 million yuan from the stock market.
Chen was convicted of bribery, abuse of power and insider trading under the Chinese Criminal Law, the court said in the judgment.
Chen, 56, an Anhui native, began his career in the provincial government in the late 1980s. He served in various key positions, such as vice-major of Hefei from September 2002 to December 2003.
He later worked in Wuhu until he became secretary-general of the provincial government in October 2011. He was vice-governor of Anhui from June 2012 to November 2016.