A female political adviser from Jiangxi province was recently sentenced to life in jail for illegally raising funds and defrauding bank loans, Legal Daily reported on Tuesday.
Zhong Shu, a member of the Zhanggong district committee of the Chinese People's Political Consultative Conference in Ganzhou, and another defendant Zhong Zhifang were found to have illegally raised more than 420 million yuan ($54.15 million) via high-interest returns.
Zhong Shu and her husband, surnamed Liu, were also found to have defrauded bank loans of another 4 million yuan.
Zhong Shu was also deprived of her political right for life and all her illegal properties were confiscated. Zhong Shu who was elected a political adviser in May of 2011 was also deputy director of the Ganzhou Women's Chamber of Commerce.
The other defendant in the case, Zhong Zhifang, was sentenced to death with a two-year reprieve.
The verdicts were passed by the Ganzhou Intermediate People's Court in the defendants' first trial.
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