Posted on Wednesday, September 19, 2007 by George S.
While not directly affecting Formula 1, this time a juice scandal has arisen around Yu Zhifei, the former boss of Formula 1 motor racing in China. Yu was found guilty of embezzling public funds on Monday by the Wuhu Intermediate People's Court.Specifically, Yu has purchased a 172-sq-m apartment from Shanghai Wenhui Estate Developing Company through an agent for 2.43 million yuan (approx. $320,000). It turns out that Yu has used funds from a Shenhua soccer club, where Yu served as a legal representative in 1997.
Yu's case was originally scheduled to be heard on August 16, but was postponed because the defendant wanted to call witnesses.
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scandal
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