Zhao Weiguo’s sentence came more than two years after he was investigated for corruption. Zhao resigned in 2022, around the same time Caixin reported that he was detained by authorities for investigation.

Prosecutors accused Zhao of abusing his power to commit corruption, illegally profiting for relatives and friends, and illegally purchasing state assets worth more than 470 million yuan (equivalent to 65 million USD today).

He was also charged with arranging illegal transactions, causing losses to a listed company and causing the state to lose 890 million yuan (equivalent to $124 million today).

According to CCTV, on May 14, more than 19 months after Zhao appeared in court in September 2023, the Jilin City Intermediate People's Court sentenced him to death with a two-year suspension.

At the end of the 2-year amnesty period, the death sentence can be reduced to life imprisonment, with a term of imprisonment of 25 years if the convicted person has remedied most of the consequences and made great achievements.

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Zhao Weiguo caused heavy losses to the Chinese state during his time leading semiconductor company Tsinghua Unigroup. Photo: VCG

The court pointed out that Zhao’s corrupt activities involved “extremely huge amounts of money and caused particularly serious losses to the state,” according to CCTV. Zhao admitted his guilt, expressed remorse, and actively paid compensation, so he was eligible for leniency.

Tsinghua Unigroup was once considered one of China's chipmaking leaders, producing chips for computers, mobile devices and cloud infrastructure.

Zhao, who joined the company in the 1990s, helped turn Tsinghua Unigroup into a major player in the semiconductor industry through a series of acquisitions.

Tsinghua Unigroup has relied heavily on government support to fund its chip expansion. Under Zhao’s leadership, the company has also invested in finance, education and media.

In recent years, Tsinghua Unigroup has undergone bankruptcy restructuring after defaulting on billions of dollars in bonds. In 2022, the company completed its restructuring, replacing its two owners—Tsinghua University and an entity owned by Zhao—with two state-backed semiconductor venture capital firms.

The case against Zhao, first announced in 2023, is part of a series of anti-corruption investigations that have brought several key figures in China's semiconductor industry to justice.

(According to WSJ)

Source: https://vietnamnet.vn/cuu-lanh-dao-ban-dan-trung-quoc-linh-an-tu-hinh-treo-2401206.html