(Source: The Wall Street Journal Blog)
A Shanghai court sentenced two real estate executives to life in prison Wednesday for their role in the freakish building collapse that saw a 13-story building topple over on its side last June, killing one worker who was trapped inside.
Zhang Zhiqin, ex-chairman of Shanghai Meidu Property Development Co. — the developer responsible for the ill-fated building, part of the Lotus Riverside development—was found guilty was found guilty of embezzlement, misuse of corporate funds and negligently causing a major accident, while Que Jingde, a former Meidu board member, was convicted of embezzlement, misuse of corporate funds and negligently causing a major accident, according to Xinhua. The two men, described as the two largest Meidu shareholders, had been appointed to take charge of the company by the district government in 1995.
Read the full article, “Property Executives Get Life in Shanghai Building Collapse Case” at blog.wsj.com (April 22, 2010).