News / Asia

China Arrests Chairman of World's Largest Tin Producer for Bribes

FILE - Policemen hoist a Chinese national flag at the entrance of a court in Jinan, where former disgraced politician Bo Xilai was held, September 22, 2013.
FILE - Policemen hoist a Chinese national flag at the entrance of a court in Jinan, where former disgraced politician Bo Xilai was held, September 22, 2013.
Reuters
Chinese authorities have arrested and charged the chairman of the world's largest producer of refined tin, Yunnan Tin Co, for accepting bribes, a provincial government said, in the latest example of the country's crackdown on graft.
 
President Xi Jinping has made fighting corruption a key plank of his new administration, saying the problem is so severe it could affect the ruling Communist Party's survival.
 
Yunnan Tin chairman Lei Yi had been charged with taking 20 million yuan ($3.27 million) in bribes from four people, the Yunnan government said on one of its official websites, including from the chairman of a company called Leed International Education Group in which Goldman Sachs has a stake. Goldman Sachs declined to comment.
 
The Yunnan government website said Lei had taken money from Leed chairman Li Hongtao to help smooth the way for Leed to buy Yunnan Tin's 45 percent stake in a private college which both companies had set up in 2009. The tin company is based in the southwestern province of Yunnan.
 
The website report made no mention of Goldman Sachs, saying simply that Leed was co-founded by a “foreign investment group”.
 
A person familiar with the matter said that Goldman Sachs' private equity arm signed an agreement with Li in 2008, in a deal worth under $70 million that ultimately formed Leed.
 
Yunnan Tin, in a statement to the Shenzhen stock exchange where the company is listed, said it was aware of Lei's arrest. The firm's vice chairman would take over Lei's duties and the company was operating normally, it added.
 
The company had said on July 6 that Lei was under investigation for “serious discipline violations”, a phrase normally used to describe corruption. It was unclear if Lei had a lawyer.
 
An executive at Leed's public relations department in Beijing, who gave her family name as Wang, said the education company would not comment on the matter and was unable to provide contact details for Li.
 
Yunnan Tin had output of around 70,000 tons of refined tin last year, nearly double the number 2 producer, Malaysia Smelting Corp Bhd.
 
Chinese authorities have announced the investigation or arrest of a handful of senior officials this year, and probes have begun to reach into powerful state-owned industries.
 
Among them, former executives from oil giant PetroChina are being investigated in what appears to be the biggest graft probe into a state-run firm in years.
 
Jin Zhong, a political commentator and editor of Hong Kong-based Open Magazine, said the Communist Party under Xi Jinping was trying to win public support by being aggressive in taking aim at corruption.
 
“Investigating corruption cases is a way for the leadership to establish popular trust,” he said.

You May Like

Lesotho Faces New Round of Violence, Political Crisis

Brutal killing of military officer has sent former leaders back into S. Africa where they're watching anxiously as regional officials head in to try to restore peace More

Video US Diplomat Expects Adoption of Bosnian Massacre Anniversary Resolution

Samantha Power says there's broad consensus about killings in Bosnia's war, but Russia calls resolution 'divisive,' backs UN countermeasure More

UN Report Exposes Widespread Boko Haram Atrocities

Damning report graphically details pattern of vicious, widespread atrocities committed by Islamist militants More

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Olympics Construction Scars Sacred Korean Mountaini
X
July 02, 2015 4:10 AM
Environmentalists in South Korea are protesting a Winter Olympics construction project to build a ski slope through a 500-year-old protected forest. Brian Padden reports that although there is strong national support for hosting the 2018 Pyeongchang Winter Olympics, there are growing public concerns over the costs and possible ecological damage at the revered mountain.
Video

Video Olympics Construction Scars Sacred Korean Mountain

Environmentalists in South Korea are protesting a Winter Olympics construction project to build a ski slope through a 500-year-old protected forest. Brian Padden reports that although there is strong national support for hosting the 2018 Pyeongchang Winter Olympics, there are growing public concerns over the costs and possible ecological damage at the revered mountain.
Video

Video Xenophobia Victims in South Africa Flee Violence, Then Return

Many Malawians fled South Africa early this year after xenophobic attacks on African immigrants. But many quickly found life was no better at home and have returned to South Africa – often illegally and without jobs, and facing the tough task of having to start over. Lameck Masina and Anita Powell file from Johannesburg.
Video

Video Family of American Marine Calls for Release From Iranian Prison

As the crowd of journalists covering the Iran talks swells, so too do the opportunities for media coverage.  Hoping to catch the attention of high-level diplomats, the family of American-Iranian marine Amir Hekmati is in Vienna, pleading for his release from an Iranian prison after nearly 4 years.  VOA’s Heather Murdock reports from Vienna.
Video

Video UK Holds Terror Drill as MPs Mull Tunisia Response

After pledging a tough response to last Friday’s terror attack in Tunisia, which came just days before the 10th anniversary of the bomb attacks on London’s transport network, British security services are shifting their focus to overseas counter-terror operations. VOA's Henry Ridgwell has more.
Video

Video Obama on Cuba: This is What Change Looks Like

President Barack Obama says the United States will soon reopen its embassy in Cuba for the first time since 1961, ending a half-century of isolation. VOA White House correspondent Luis Ramirez reports.
Video

Video Hate Groups Spread Influence Via Internet

Hate groups of various kinds are using the Internet for propaganda and recruitment, and a Jewish human rights organization that monitors these groups, the Simon Wiesenthal Center, says their influence is growing. The messages are different, but the calls to hatred or violence are similar. VOA's Mike O’Sullivan reports.
Video

Video US Silica Sand Mining Surge Worries Illinois Residents, Businesses

Increased domestic U.S. oil and gas production, thanks to advances known as “fracking,” has created a boom for other industries supporting that extraction. Demand for silica sand, used in fracking, could triple over the next five years. In the Midwest state of Illinois, people living near the mines are worried about how increased silica sand mining will affect their businesses and their health. VOA’s Kane Farabaugh has more in this first of a series of reports.
Video

Video Blind Somali Journalist Defies Odds in Mogadishu

Despite improving security in the last few years, Somalia remains one of the most dangerous countries to be a journalist – even more so for someone who cannot see. Abdulaziz Billow has the story of journalist Abdifatah Hassan Kalgacal, who has been reporting from the Somali capital for the last decade despite being blind.
Video

Video Texas Defies Same-Sex Marriage Ruling

Texas state officials have criticized the US Supreme Court decision giving same-sex couples the right to marry nationwide. The attorney general of Texas says last week's decision did not overrule constitutional "rights of religious liberty," and therefore officials performing wedding services can refuse to perform them for same-sex couples if it is against their religious beliefs. Zlatica Hoke reports on the controversy.
Video

Video Rabbi Hits Road to Heal Jewish-Muslim Relations in France

France is on high alert after last week's terrorist attack near the city Lyon, just six months after deadly Paris shootings. The attack have added new tensions to relations between French Jews and Muslims. France’s Jewish and Muslim communities also share a common heritage, though, and as far as one French rabbi is concerned, they are destined to be friends. From the Paris suburb of La Courneuve, Lisa Bryant reports about Rabbi Michel Serfaty and his friendship bus.
Video

Video Saudi Leaks Expose ‘Checkbook Diplomacy’ In Battle With Iran

Saudi Arabia’s willingness to wield its oil money on the global diplomatic stage appears to have been laid bare, after the website WikiLeaks published tens of thousands of leaked cables from Riyadh’s Ministry of Foreign Affairs. VOA's Henry Ridgwell reports.
Video

Video In Kenya, Police Said to Shoot First, Ask Questions Later

An organization that documents torture and extrajudicial killings says Kenyan police were responsible for 1,252 shooting deaths in five cities, including Nairobi, between 2009 and 2014, representing 67 percent of all gun deaths in the areas reviewed. Gabe Joselow has more from Nairobi.

VOA Blogs