s stock prices falls below HK＄ 0.58.

By staff reporter Yang Haipeng

Three months after Shanghai real estate tycoon Zhou Zhengyi walked out of the city’s Tilan Bridge Prison a free man, Zhou’s prison guard has become a prisoner himself for suspicion of conspiracy with his former billionaire charge.

Top prison officials announced the detention of 56-year-old Yu Jinbao in a meeting of prison guards on August 18. Yu, a middle-ranking official at the prison,Nike 2010 World Cup team Portugal, was suspected of “seriously violating Party disciplines and work rules,” they said without further elaboration. But Yu’s co-workers told Caijing they believed Yu was investigated for conspiring with Zhou to reduce the latter’s jail term and giving him unjustifiable good treatment in prison.

Zhou,44, a powerful real estate developer once known as Shanghai’s richest man, was arrested by Shanghai prosecutors in May 2003, and sentenced to three years’ imprisonment one year later for manipulating stock prices and falsely declaring the registered capital of his company. He was released from Tilan Bridge Prison on May 26, after spending a full three years in custody.

Sources tell Caijing that Zhou served under the alias of “Zou Zhenyi” during his prison term, and many prison guards had no idea that they had the local celebrity in their charge until they read news reports online from Hong Kong newspapers.

Yu Jinbao began working at Tilan Bridge Prison around the 1980’s and has since advanced his position there. He was appointed by top prison officials to personally manage Zhou soon after the latter’s sentence. But suspicion grew that Yu gave special treatment to his charge in the form of food, alcohol and cell phone access. In January, Shanghai authorities received complaints about Zhou’s privileges at the prison, but an ensuing investigation seemed to have yielded no results.

Rumors have it that Zhou was treated excessively well, and was allowed to continue to hold board meetings of his company while at the prison. In addition, there are alleged claims of drill exemption,Nike Total90 Laser III HG, the use of a personal room and access to television, air-conditioner, DVD player and a freezer. It is also said that Zhou was permitted numerous meetings with relatives that were not required to be in the main lobby or monitored. Another privilege that Zhou allegedly maintained was direct care from the prison hospital,Nike CTR360 AG, while other out-patient sick prisoners are forced to wait, even if Zhou is merely afflicted with minor colds.

Zhou’s prison records show that he had been awarded 200 “good behavior points” in the first year alone,maillots de football Coat, which would have warranted a reduction of 12 to 18 months from his sentence. In September 2005, when Zhou had barely nine more months to serve,Nike 2010 World Cup team New Zealand, prison authorities did receive orders from unnamed Shanghai government leaders to draft a report proposing to reduce Zhou’s term. Only after Hong Kong authorities made it clear that they still had a standing warrant for Zhou’s arrest, did Tilan Bridge Prison officials give up the plan to for Zhou’s early release.

Zhou Zhengying’s last high-sounding appearance was on 25th May,adidas adiPURE, 2003, when he met senior executives of a Beijing official media group to negotiate a potential investment deal. Sources present at the meeting told Caijing that a ebullient Zhou boasted he was worth 40 billion yuan (US＄ 5 billion), and promised to invest 100 million yuan (US＄ 12.5 million) in a joint-venture media investment company,Nike Tiempo, as well as one billion yuan (US＄ 125 million) as operational funds for the joint-venture.

But the next day, Zhou was arrested. Five days later, the share price of Shanghai Real Estate (HK, 0067, delisted) the Hong Kong-listed company under Zhou’s control, dropped to HK＄ 0.40. Mao Yuping, Zhou’s wife, was arrested by Hong Kong’s Independent Commission Against Corruption officers on June 1, 2003.

Hong Kong prosecutors charged Mao with conspiracy to make market,Nike5 Elastico Pro - Mens Indoor Boots, conspiracy to defraud Bank of China (Hong Kong), and conspiracy to obstruct justice. The couple had obtained a HK＄ 2.16 loan from Bank of China (Hong Kong) in 2002 to fund their purchase of Shanghai Real Estate, with the company’s stocks as collateral. According to the bank’s contract with the couple, Zhou and Mao needed to give additional collateral assets to the bank if the listed company’s stock prices falls below HK＄ 0.58.

Hong Kong prosecutors charged that Mao had used 43 stock accounts to trade the company’s stocks in an effort to falsely buoy the company’s stock price at levels beyond HK＄ 0.58. A Hong Kong district court started hearing the case in August 2005, and sentenced Mao to 42 months in prison in January this year. In April, prosecutors slapped another 12 counts of fraud charges against Mao, and she was sentenced to an additional 16 months in prison.

English version by Wang Huan and Kathern Simpson
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