Former COFCO executive sentenced to 12 years for bribery and abuse of power

Zhou Zheng, a former deputy general manager of COFCO Group, one of China's leading agricultural and food companies, was sentenced Tuesday to 12 years in prison for bribery, embezzlement, and abuse of power, a court in northern China announced.

The Yuncheng Intermediate People's Court in Shanxi province also fined Zhou 700,000 yuan ($95,000).

Zhou, who held various roles at COFCO from 1998 to 2023 — including chairman of COFCO Land Holdings Limited and Grandjoy Holdings Group — was found guilty of multiple offenses during his tenure.

The court said Zhou 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.

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.

Additionally, as a state-owned company executive, Zhou abused his power from 2013 to 2014 by pushing forward projects that violated regulations, resulting in losses of state-owned assets valued at more than 101 million yuan.