CHONGQING, Dec. 20 (Xinhua) -- Wang Xiaoguang, former vice governor of Guizhou Province, stood trial for taking bribes, embezzlement and insider trading at a court in Chongqing Municipality Thursday.
Wang was accused of using his positions to seek benefits for others in shareholding transfer, obtaining projects and project funds, and personnel promotions, and in return accepting money and property worth over 48.7 million yuan (7.1 million U.S. dollars) personally or through his family members between 1998 and 2017.
When he served as head of Wudang District of Guiyang City in Guizhou between 1999 and 2000, Wang illegally gained 5 million yuan in land compensation, said the prosecutors in Chongqing.
According to the indictment, Wang obtained inside information on securities via illegal means and conducted trading of relevant stocks personally or instructing his relatives to do so, gaining about 160 million yuan from August 2009 to February 2016.
In his final statement, Wang pleaded guilty and expressed remorse. The trial was attended by more than 70 people including legislators, press and members of the public. The verdict will be announced at a later date.
