Another 500 com employee handed suspended prison sentence in Japan

By
Felix Ng
-

A Chinese national and former employee of 500 com has been handed a suspended prison sentence for his part in the casino bribery scandal. Zheng Xi, a former executive of the company’s Japan unit, had argued that he had only served as a translator.

IR汚職事件 中国企業の元役員 贈賄などで有罪判決 東京地裁 (NHK)

Related Articles

500 .com completes placement, receives bitcoins

500.com closed its previously announced private placement transaction with Good Luck Information Technology and has received 356.04342 Bitcoins and US$11.5 million in cash. The company has issued 85,572,963 newly issued Class A ordinary shares to Good Luck Information.

500 com full year losses at US$29.2 million

500 com has announced its fourth quarter and full year financial results. As for the full year 2020, net revenues were RMB21.8 million (US$3.3 million) and operating losses were RMB190.8 million (US$29.2 million).

500 com enters agreement for more bitcoin mining machines

500 com has announced that it has entered into a definitive purchase agreement for 5,900 bitcoin additional mining machines for a total consideration of approximately RMB55.2 million US$8.5 million). All of the bitcoin mining machines are expected to be delivered in the second quarter of 2021.

500 com buys share of Loto Interactive

500 com has announced that it has entered into a share subscription agreement in which it has conditionally agreed to subscribe for 169,354,839 shares of Loto Interactive Limited for a total of approximately HK$105 million (US$13.5 million) in cash.

Rules on contacts between Japan officials and operators seen as ambiguous

In the wake of the 500 com bribery case, the Suga government has been proposing new rules for contacts between Japanese government officials and IR operators. However, these regulations are being criticized for being ambiguous in certain key areas.

500 com buys bitcoin mining machines

500 com has announced that it has entered into a purchase agreement for approximately US$14.4 million worth of its Class A ordinary shares in order to acquire bitcoin mining machines from an unnamed seller.

500 Com appoints new top executives and enters share subscription agreement

500 Com’s board of directors has proposed to explore business opportunities in the blockchain and cryptocurrency industries based on some success experience of its associate, Loto Interactive Limited.

Former 500 com vice-president only “interpreter” in bribery scheme

Zheng Xi, who says he was acting under the title of 500 com vice-president, admitted guilt in the bribery case to the Tokyo District Court, but sought a lighter sentence on the claim that he was not one of the authors of the scheme to bribe Japanese politicians, but simply acted as an interpreter.

500 com reports US$7.4 million loss for Q3

Troubled online sports lottery operator 500 com reported a US$7.4 million loss in the July to September quarter, based on net revenues of only US$900,000.

Tokyo prosecutors seek 14-month sentences for witness tampering pair

Tokyo prosecutors have asked the court to sentence two men involved in witness tampering in relation to the 500 .com bribery scandal to 14 months in prison. These men have confessed to assisting former Senior Vice-Minister of the Cabinet Office Tsukasa Akimoto in bribing witnesses to recant their damaging testimony against the politician.