Zhao Weiguo (pictured) was convicted of abusing power, illegally acquiring state assets and arranging improper transactions and the Intermediate People’s Court in the northeastern city of Jilin has sentenced him to death.
The good news for Zhao is that he’s been granted a two-year reprieve on execution which in China usually means his sentence will be changed to life imprisonment.
The sentence came two years after he stepped down from Unigroup and began being investigated by the authorities who found that he had pocketed some $65 million worth of state assets.
He was found to have engaged in improper transactions which lost $124 million of public money and abused power by providing benefits for friends and relatives
Zhao, who herded pigs and goats in his youth, built up Unigroup into China’s No.1 chip company with takeovers of Spreadtrum Communications and RDA Microelectronics. Intel took a 20% stake in the company.
