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PEOPLE & POINTS
Weekly Watch> WEEKLY WATCH NO. 19, 2010> PEOPLE & POINTS
UPDATED: May 7, 2010 NO. 19 MAY 13, 2010
Disgraced Property Developers
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Que Jingde (CHEN YONGLIANG)

Zhang Zhiqin (CHEN YONGLIANG)

Zhang Zhiqin and Que Jingde, two Shanghai businessmen, have been sentenced to life imprisonment for their involvement in a fatal residential building collapse last year.

Zhang, 51, was the largest shareholder and general manager of the Shanghai Meidu Real Estate Co., and Que, 52, was the company's second largest shareholder.

On June 27, 2009, a 13-story building built by Meidu in Shanghai's suburban Minhang District fell on its side almost intact, killing a worker. Investigations attributed the accident to illegal underground garage excavation.

The Shanghai No.1 Intermediate People's Court convicted Zhang and Que of jointly embezzling more than 40 million yuan ($5.9 million) of corporate funds from September 2000 to April 2001. Zhang was also found guilty of misusing 440 million yuan ($65 million) of corporate funds for personal gain, and negligence.



 
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