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Li Shubiao's malversation has to pay a big price
 January 18, 2009, 7:03 am (2 years ago)According to the Xinhua news agency, the Chenzhou Intermediate People's Court confirmed the death sentence imposed on corrupt Chinese government official Li Shubiao in 2005, after a retrial for corrupt act and cheating of public funds.
When head of the Administrative Center for Housing Accumulation Funds of Chenzhou City, Hunan Province, Li Shubiao misused in excess of 118 million yuan (US$17.26 million) in funds apportioned to purchase homes for 200,000 city employees between 1999 and 2004.
The court heard that Li utilized the peculated funds to gamble in Macau and different places or uses wastefully. Around 77.475 million yuan was debts when Li's case was 1st examined in January 2004.
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