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Third Former Chairman of Jilin Trust Convicted of Bribery

Third Former Chairman of Jilin Trust Convicted of Bribery Another chairman of troubled Jilin Province Trust Co. Ltd. was found guilty of corruption, extending the state-owned company’s streak of scandals involving every chairman since 2001. Gao Fubo, chairman of the Jilin-based trust company between 2007 and 2015, was convicted of corruption, bribery and embezzlement, a local court said Tuesday. The court handed Gao a 20-year jail term, a fine of 5.1 million yuan ($794,540) and confiscation of 500,000 yuan of personal assets. Gao is the third chairman of Jilin Trust to be convicted on corruption charges, and a fourth is awaiting trial. Gao’s predecessor, Zhang Xinbo the company’s chairman between 2001 and 2007 was sentenced to death with a two-year reprieve for corruption in 2009.

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