China Sentences Oil Exec To Death

chen tonghai

If you’re looking for a country where they take corporate malfeasance and corruption really seriously — and where they don’t pussyfoot around on blogs discussing “bankslaughter” — go to China.

There they kill people, which, we’re guessing, many of you would like to see more of here (admit it!).

Times Online UK: The former chairman of Sinopec, the oil refiner that is one of China’s largest companies, was sentenced to death earlier today, becoming the latest victim of a Government drive to stamp out corruption.

Chen Tonghai, 61, who was found guilty of accepting over $28 million in bribes, was removed from the job two years ago. His sentence was one of the harshest ever meted out by Chinese authorities although he may be spared execution — usually administered in China with a bullet to the back of the head — as the sentence was issued with a two-year reprieve.

We’re not totally sure what the deal is with the two-year reprieve, though it sounds to us like that might just be away for him to be mentally tortured while he awaits his final fate.

Anyway, it seems like China’ been on a jag lately of cracking the whip on business executives, as this news follows the arrest of Austrian nationals from Rio Tinto.

You might think that if the government goes overboard, they’ll be hesitant to do business in China*, except that, ooh…. all those 1 billion consumers eager to eat big macs, buy iPhones and drink chai lattes.


*But seriously, does anyone think that even the ultimate penalty will deter serious corporate malfeasance in China over the longterm?

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