BEIJING, CHINA — A former COFCO Group official was sentenced on Jan. 14 to 12 years in prison for bribery, embezzlement and abuse of power, China Daily reported.
Zhou Zheng, a former deputy general manager of COFCO, China’s largest food processor, manufacturer and trader, also was fined 700,000 yuan ($95,000) by a court in northern China, according to China Daily.
The court said Zhou, who worked in various roles for COFCO from 1998 to 2023, accepted bribes totaling more than 6.05 million yuan ($825,000) by using his position to secure business contracts, arrange personnel appointments, and facilitate promotions for individuals and organizations, according to China Daily. Between 2003 and 2021, Zhou embezzled over 2.41 million yuan ($329,000) in public funds by falsifying expenses and inflating bonuses, according to the court.
State-owned COFCO Group operates an overseas agriculture business platform, COFCO International, which is headquartered in Geneva, Switzerland.