财联社·2025-11-19 09:18Core Viewpoint - The case of Li Quan, former chairman of New China Life Insurance Co., highlights significant corruption within the company, resulting in severe legal consequences for the individual involved [1][5]. Summary by Sections Case Details - Li Quan was sentenced to life imprisonment for embezzlement and death penalty with a two-year reprieve for bribery, along with the confiscation of all personal property [1]. - The court found that from June 2015 to March 2024, Li Quan illegally appropriated business profits totaling over 108 million RMB through deceitful means [3]. - From 2010 to 2023, he received bribes amounting to over 105 million RMB by leveraging his position to assist various entities in business collaborations and fund subscriptions [3]. Court Ruling - The court deemed Li Quan's actions as constituting both embezzlement and bribery, with particularly large amounts causing significant losses to the state and public interests, warranting severe punishment [5]. - Mitigating factors included his confession, cooperation with authorities, and the return of embezzled and bribed funds, which led to a lighter sentence [5]. Trial Proceedings - The trial was held on May 14, 2025, with evidence presented by the prosecution and Li Quan's defense team engaging in cross-examination [7]. - The proceedings were attended by over 30 individuals, including representatives from the National People's Congress, political advisors, and family members of the defendant [7].