WUHAN - Li Yong, former general manager of the China National Offshore Oil Corporation (CNOOC), was on Tuesday sentenced to 14 years in prison for taking bribes.
The sentence was handed down by the Intermediate People's Court of Xiangyang City in Central China's Hubei province.
Li was also fined 3 million yuan ($420,368), and his illegal gains from bribery will be recovered and turned over to the state treasury.
According to the court, Li took advantage of his various posts from 1996 to 2023 to assist certain enterprises and individuals in matters such as agency services and product sales. In return, he accepted money and valuables totaling 67.94 million yuan.
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Taking into account Li's confession, evident remorse, proactive return of his ill-gotten gains and other mitigating factors, the court handed down a lenient sentence.
