Rio Tinto execs handed lengthy jail terms

clock

Four Rio Tinto executives have been found guilty of bribery and stealing secrets by a Chinese court.

In addition to being fined and having their assets confiscated, they were given hefty jail sentences. Australian Stern Hu was handed a 10-year sentence, Wang Yong 14 years, Liu Caikui seven years and Ge Minqiang eight years. Stephen Smith, Australia's foreign minster, criticised the court for not allowing Australian diplomats access to the parts of the hearing which dealt with the commercial espionage charges. "Whilst we do not condone bribery in any way, I think the sentence, on any measure, is harsh," he said, before adding that the sentence would not have an adverse effect on Austr...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

PA360: Check out the photo gallery from our 2024 conference

PA360: Check out the photo gallery from our 2024 conference

Our flagship conference took place last week at 133 Houndsditch in London

Professional Adviser
clock 30 April 2024 • 1 min read
Clients regret not working with an adviser sooner

Clients regret not working with an adviser sooner

Around 46% started using an adviser when they were 40 or older

Isabel Baxter
clock 30 April 2024 • 2 min read
St James's Place client funds reach £179bn due to investment returns

St James's Place client funds reach £179bn due to investment returns

Client funds reach record £179bn in first quarter of the year

Sahar Nazir
clock 30 April 2024 • 1 min read