Xin Lang Cai Jing·2025-12-23 07:15Core Viewpoint - The case highlights a significant breach of trust within the insurance industry, where an employee of China Life Property Insurance Co., Ltd. engaged in fraudulent activities, leading to substantial financial losses for the company [1][9]. Group 1: Fraudulent Activities - The employee, Hu, assisted an external accomplice, Jiang, in submitting false insurance claims, resulting in a total fraud amount of 1.229852 million yuan (approximately 122.99 million) [1][13]. - Hu received a total of 540,000 yuan (approximately 54 million) as kickbacks for facilitating the fraudulent claims [1][5]. Group 2: Legal Proceedings - The case underwent multiple legal processes, including a first-instance trial, an appeal, and a final judgment by the Yichun Intermediate People's Court, which sentenced Hu to five years in prison for fraud [1][9]. - The court determined that Hu's actions constituted a significant role in the fraud, leading to a conviction for fraud rather than bribery, despite his defense arguing otherwise [11][13]. Group 3: Internal Control Failures - The case revealed critical failures in the internal control mechanisms of China Life Property Insurance, as Hu, despite recognizing the fraudulent nature of the claims, chose to proceed with the submission [8][12]. - The insurance company's risk control system, which should have acted as a firewall against such fraud, was compromised due to Hu's negligence and unethical behavior [8][12].