Yi Jun sentenced to 10 years and accepted 4.82 million yuan in bribes. Party Group | Chairman | Bribery of Sichuan Provincial Investment Promotion Bureau

Only a year and a half after its establishment, the chairman of Sichuan's first life insurance institution was investigated. Recently, the company disclosed the latest progress.

On June 14th, the official website of Guobao Life Insurance released a temporary information disclosure announcement, stating that according to the criminal judgment, the former Party Secretary and Chairman of the company, Yi Jun, committed the crime of bribery and was sentenced to ten years in prison and fined RMB 500000; The illegal gains from bribery shall be recovered and turned over to the national treasury.

In September 2019, the Sichuan Provincial Commission for Discipline Inspection and Supervision announced that Yi Jun, Secretary of the Party Committee and Chairman of Guobao Life Insurance, was suspected of serious violations of discipline and law and is currently undergoing disciplinary review and supervision investigation.

In December 2019, the Sichuan Provincial Commission for Discipline Inspection and Supervision announced that, with the approval of the Sichuan Provincial Party Committee, the Commission for Discipline Inspection and Supervision had launched a case review and investigation into the serious violations of discipline and law by Yi Jun, former Party Secretary and Chairman of Guobao Life Insurance Co., Ltd.

In February 2020, the Supreme People's Procuratorate announced that the case of Yi Jun, former Party Secretary and Chairman of Guobao Life Insurance, suspected of accepting bribes, was designated by the Sichuan Provincial People's Procuratorate and prosecuted by the Leshan Municipal People's Procuratorate to the Leshan Intermediate People's Court.

The content of the lawsuit filed by the People's Procuratorate of Leshan City shows that the defendant Yi Jun took advantage of his position as a member and deputy director of the Party Group of the Sichuan Investment Promotion Bureau, a member and deputy director of the Party Group of the Sichuan Investment Promotion Bureau, and the leader of the National Treasure Life Insurance Preparation Working Group to illegally accept other people's property and seek benefits for others, with a particularly large amount of money. He should be held criminally responsible for the crime of bribery in accordance with the law.

Accepted 4.82 million bribes and received 10 years in prison

According to the information released on the website of Guobao Life Insurance, Yi Jun's case is recorded in the "Sichuan Province Leshan Intermediate People's Court Formal Judgment No. 11 Xingchu 2" document.

However, Guobao Life Insurance only partially disclosed the content of the document, which is the final judgment result, but did not disclose specific details.

The fund manager did not find the above-mentioned documents on the Chinese Judgment Online.

However, the fund manager found the specific amount of Yi Jun's corruption and bribery in a closing notice on the China Judgment Document Network.

The document disclosed that "during the investigation and trial stage of this case, the defendant Yi Jun and his relatives have refunded a total of 4.82426 million yuan in illegal gains from bribery to the Sichuan Provincial Supervision Commission, Leshan People's Procuratorate, and Leshan Intermediate People's Court, which have been turned over to the national treasury. Based on this, the criminal judgment No. 2 of the 11th Criminal Judgment of this court, which sentenced the defendant Yi Jun to pay a fine of 500000 yuan and 4.82426 million yuan in illegal gains from bribery, has been fully executed and turned over to the national treasury. The case has now been closed."

This means that the relevant departments have finally determined that Yi Jun has illegally obtained 4.82426 million yuan from bribery, and this amount has been fully recovered after the incident.

The fall of the horse is related to the national treasure Weiteng project

According to the report on the progress of the 9th round of inspection and rectification of the 11th Sichuan Provincial Party Committee released on the official website of Guobao Life Insurance in June 2022, Yi Jun's downfall is mainly related to the Guobao Weiteng project.

In an interview with Cover News in January 2019, Yi Jun stated that in 2019, Guobao Life Insurance will adhere to the basic strategy of "insurance surnamed protection and risk prevention and control" Accelerate the establishment of Guobao Weiteng Health Management Company, effectively integrate the entire industry chain of the big health industry, and provide customers with systematic, professional, and full lifecycle health protection services.

However, after Yi Jun's downfall, the project of Guobao Weiteng Health Management Company was suspended.

In the above-mentioned document released on the official website of Guobao Life Insurance in June 2022, it was disclosed that all remaining project funds of Guobao Weiteng have been recovered.

Loss of 350 million in 2022

Public information shows that Guobao Life Insurance officially opened in Chengdu in April 2018, becoming the first national joint-stock life insurance company registered in Chengdu and headquartered in Chengdu.

Since its establishment in 2018, Guobao Life Insurance has turned losses into profits in 2021, with a net profit of approximately 25 million yuan that year. In 2022, Guobao Life Insurance once again experienced losses.

According to a report publicly disclosed by Guobao Life Insurance at the end of January this year, the insurance business revenue of Guobao Life Insurance in 2022 was about 1.42 billion yuan, a year-on-year decrease of 67.66%; The net loss was about 353 million yuan, and the net profit for the same period last year was about 25 million yuan. Meanwhile, the year-on-year growth rate of scale premium of Guobao Life Insurance in 2022 was -35.08%; The comprehensive surrender rate is 3.46%.

It is worth noting that as of the end of the fourth quarter of 2022, the net assets of Guobao Life Insurance decreased to 650 million yuan. Compared to the end of the fourth quarter of 2021, its net assets have decreased by nearly 50%.

It is understood that net assets are assets owned and freely disposable by a company, and are an important indicator reflecting the company's value and ability to continue operating.

In addition, the solvency report shows that at the end of the fourth quarter of 2022, the net asset return rate of Guobao Life Insurance was -37.85%, and the total asset return rate was -4.39%; The investment return rate is 2.46%, and the comprehensive investment return rate is -0.48%.

In addition, at the end of the fourth quarter of 2022, the comprehensive solvency adequacy ratio of Guobao Life Insurance decreased from 167.99% at the end of the fourth quarter of 2021 to 110.51%. The core solvency adequacy ratio decreased from 167.99% to 88.41%.

Resume of Yi Jun

Yi Jun, male, Han ethnicity, born in October 1962, from Mianzhu, Sichuan, with an in-service graduate degree. He started working in September 1981 and joined the CPC in June 1986.

From September 1981 to July 1986, worked at Chengdu Seamless Steel Pipe Factory in Sichuan Province;

From July 1986 to November 1993, worked at the Sichuan Provincial Construction Commission;

From November 1993 to September 1994, worked at the Office of the Sichuan Provincial Government;

From September 1994 to December 1995, served as the Deputy Secretary of the General Office of the Sichuan Provincial Government;

From December 1995 to September 1997, served as the Deputy Director of the Investment Promotion Office of the Sichuan Provincial Government;

From September 1997 to August 2000, served as the Deputy Director of the Investment Promotion Bureau of the Sichuan Provincial Government;

From August 2000 to July 2001, served as the Director of the International Cooperation Department of Sichuan Provincial Investment Promotion Bureau;

From July 2001 to October 2004, served as a member of the Party Group and Secretary of the Party Committee of the Sichuan Provincial Investment Promotion Bureau;

From October 2004 to January 2013, served as a member of the Party Group and Deputy Director of the Sichuan Provincial Investment Promotion Bureau;

From January 2013 to July 2014, served as a member of the Party Group and Deputy Director of the Sichuan Provincial Investment Promotion Bureau;

From July 2014 to June 2018, served as a member of the Party Group and Deputy Director of the Sichuan Provincial Investment Promotion Bureau, as well as the leader of the preparatory group of Guobao Life Insurance Co., Ltd;

From June 2018 to July 2018, served as a member of the Party Group and Deputy Director of the Sichuan Provincial Investment Promotion Bureau, and Chairman of Guobao Life Insurance Co., Ltd;

From July 2018 to October 2018, served as a member of the Party Committee and Deputy Director of the Sichuan Provincial Investment Promotion Bureau, as well as the Party Secretary and Chairman of Guobao Life Insurance Co., Ltd;

From October 2018 to present, Secretary of the Party Committee and Chairman of Guobao Life Insurance Co., Ltd.