Executives linked to fallen Chinese presidential aide jailed

Markets Associated Press

A group of former Chinese executives who were linked to a fallen presidential aide imprisoned on graft charges have been convicted of insider trading and other offenses.

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A court in China's northeast said 12 executives of Founder Group, once a prominent computer manufacturer, were convicted Friday and sentenced to prison. One executive, the former CEO, was fined 750 million yuan ($110 million).

Another court said last year Founder made payments to Ling Jihua, an aide to former President Hu Jintao who was sentenced to life in prison for taking bribes. News reports said the former Founder CEO bought a Ferrari for Ling's son, who later was killed in a car crash.