CITIC (US:CTPCY) Xin Hua She·2025-12-12 10:00Core Points - The Shenyang Intermediate People's Court sentenced Xu Zuo, former deputy general manager of China CITIC Group, to life imprisonment for bribery and seven years for illegal business operations, with a total of 1.47 billion RMB in bribes received [1][2] - The court found that Xu Zuo's actions caused significant losses to the state and the public, and his illegal business operations yielded substantial profits [2] Summary by Sections - Bribery Charges - Xu Zuo was convicted of accepting bribes totaling over 1.47 billion RMB from 1999 to 2024 while holding various positions at CITIC Dicastal Co., Ltd. and China CITIC Group [1] - The court noted that the amount of bribery was particularly large and resulted in severe losses to national and public interests [2] - Illegal Business Operations - From 2012 to 2024, Xu Zuo engaged in illegal business operations similar to those of his employer, resulting in significant profits [1] - The court emphasized the particularly large amount of illegal profits gained through these operations [2] - Court Proceedings - The trial was held on July 24, 2025, with evidence presented by the prosecution and Xu Zuo admitting to his crimes [2] - The court considered mitigating factors such as Xu Zuo's confession and the full recovery of embezzled funds, leading to a lighter sentence for the bribery charge [2]