International Law

Rule of Law Implications of Huang Guangyu Trial?

By Stan

The corruption trial of former appliance tycoon Huang Guangyu, who was once China’s richest man, has finished and a verdict is pending, a lawyer involved in the case said on Friday.

[ . . . ]

Huang . . . built his Hong Kong-listed GOME Group into one of China’s largest electronics and appliance chains with more than 1,200 stores in over 200 cities.

But he was detained two years ago and charged with insider trading and bribing five government officials with 4.56 million yuan (667,000 dollars) in cash and properties from 2006 to 2008[.] (AFP)

This case has garnered a great deal of attention, but only because Huang had been deemed “China’s richest man” by the Hurun Report. Exciting perhaps, but not so much for lawyers who aren’t participating in the case. The defense lawyer and lead prosecutor, of course, are big shots who will benefit quite nicely after the guilty verdict comes in (I’m assuming).

Whenever there is a high-level case like this, there are possible opportunities to effect Rule of Law, specifically public perception of the judicial system. There are three options to consider here:

1. Putting the richest guy in the country on trial will further the concept that no one is “above the law.”

2. Seeing the most successful person in the country taken down will further the cynical notion that corruption is rife and the economic system really doesn’t work.

3. Neither. No Rule of Law implications because there are complicating factors.

(More)

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Post tags: anti-corruption, china criminal justice system, china criminal law, corruption, insider trading, rule of law

Full post as published by China Hearsay on April 23, 2010 (boomark / email).