Li Xiaowen, former general manager of the China Overseas Trade Co., was sentenced to life in prison Thursday for corruption and embezzlement of public funds by the Beijing No. 2 Intermediate People's Court on Thursday.

Taking advantage of his position, Li is accused of putting into the account of his controlled company 30.54 million yuan (3.6 million US dollars) as tax guarantee and money Li's company was awarded from a lawsuit it won by the Tianjin No. Two Intermediate Court.

Then, Li spent 1.19 million yuan to buy two villas for himself by drawing money without keeping accounts.

Li also transferred large amounts of public funds to the account of an advertising company in Beijing. When the sum was paid back, he converted 3.52 million yuan into US dollars and put them into his own account.

He also embezzled millions of public funds on other occasions.

According to the court ruling, as a government civil servant, Li took advantage of his power to embezzle public funds and failed to return them. Therefore, the court said he should be punished bylaw.

Source: Xinhua