Executives linked to fallen Chinese presidential aide jailed

BEIJING — A group of Chinese executives linked to an imprisoned former presidential aide who was brought down by a fatal Ferrari crash were convicted Friday of insider trading and other offences.

The former chairman, chief executive and 10 other executives of Founder Group, a conglomerate with interests in technology, real estate and finance, were convicted by a court in the northeastern city of Dalian. The former CEO, Li You, was sentenced to 4 1/2 years in prison and fined 750 million yuan ($110 million). Penalties for the others were not announced.

Another court said last year Founder made payments to Ling Jihua, a former chief of staff to President Hu Jintao who was sentenced to life in prison for taking bribes.

News reports said Li, the former CEO, bought a Ferrari for Ling’s son, who died in a car crash in Beijing with two nude or half-dressed women as passengers. Ling fell from political favour when he was accused of trying to cover up the accident.