Former Kweichow Moutai manager sentenced to life imprisonment for taking bribes
Published: Jun 17, 2022 11:44 PM
Handcuffs Photo: CFP

Handcuffs Photo: CFP

The former deputy general manger of Chinese distiller Kweichow Moutai Co was sentenced to life imprisonment on Friday by a court in Southwest China's Guizhou Province for taking bribes, the court said in its official WeChat account on Friday. 

According to the statement, Du Guangyi has been deprived of political rights for life and all of his personal fortune has been confiscated.

Du had various positions at Kweichow Moutai Co and its subsidiaries since 2000. He used the job to seek benefits for others by obtaining and changing Maotai liquor's management rights and material supplies, as well as receiving bribes amounting to about 102.6 million yuan ($15.3 billion). The court will turn over Du's assets to the state treasury. 

Yuan Renguo, former chairman of Kweichow Moutai, was also sentenced to life imprisonment in September 2021 for taking bribes.

The company's business has shown an upward trend despite the controversy. Its revenue rose 11.71 percent year-on-year to 109 billion yuan in 2021, according to its financial results, and net profit rose 12.34 percent year-on-year to 52.46 billion yuan. 

The company also set a target of achieving revenue of 125.9 billion yuan in 2022, equivalent to growth of 15 percent.

The share price of Kweichow Moutai rose by 3.94 percent on Friday.