Wison Engineering Services, the largest private EPC service provider in China, has announced that it has informed by the lawyer of its chairman Hua Bangsong that a Chinese court has delivered verdicts on the investigations involving the company and Hua.
Wison Engineering and Hua were acquitted of a charge of conspiracy to commit a tend-offer fraud, however they were found guilty of an offence to commit bribery. Wison Enginnering was ordered to pay a fine of RMB30m ($4.83m) on the charge while Hua was sentenced to 36 months in prison.
Hua, who was detained by authorities for corruption investigations in September 2013, has not decided on whether to appeal against the conviction. Given his time in detention to date, Hua will be released in the fourth quarter of 2016.