Cai Xiyou, a former general manager of Sinochem Group. (Photo: CCTV)

Cai Xiyou, a former general manager of Sinochem Group, was convicted and sentenced to 12 years in prison for accepting over 50 million yuan ($727 million) bribes and fined 3 million yuan ($436,500) on December 26. The money Cai received as bribes will be recovered and turned over to the state treasury.