Sinobioway Medicine equity case second instance retrial: revocation of embezzlement charge, reduced prison term and fine

It is reported that the Intermediate People's Court of Zibo City recently made a second-instance judgment on the equity dispute case of Sinobioway Medicine. According to the judgment, the defendant Pan Aihua was convicted of embezzlement and sentenced to five years in prison; the defendant Li Pengfei was convicted of forging official documents and seals of state organs and sentenced to two years in prison, along with a fine of RMB 50,000, and for forging company seals, he was sentenced to one year in prison, along with a fine of RMB 30,000; the defendant Luo Deshun was convicted of embezzlement and sentenced to three years in prison; the court ordered the defendant Pan Aihua to return RMB 12.75 million to Sinobioway Biopharmaceutical Co., Ltd.; the seized forged seals and documents will be destroyed by the seizing authority in accordance with the law. Compared to the first-instance judgment, the second-instance court revoked the embezzlement charges against the three defendants, and the corresponding sentences and fines were significantly reduced. (Yicai)