Beijing News: Three major shareholders of Fu Wei Film Holding Co., Ltd., a Beijing film extrusion company, have been convicted of misappropriating state-owned assets, and the case has been initially examined. One of them was sentenced to death and the other two were sentenced to life imprisonment. The Nasdaq listed company announced the preliminary results in a press release issued on March 6, 2000. The three men were detained at the end of 2007. Yin Jun, 49, was sentenced to death with a two-year suspension. Both Zhou Tongju and Wang Duo were sentenced to life imprisonment. According to the press release, the three defendants were accused of "misappropriating tens of millions of state-owned assets during the restructuring of Shandong Xinlike Plastics Co., Ltd.". In September, 2004, the state-owned Sony Ericsson declared bankruptcy because of the loan owed to the national bank. At that time, its assets were transferred to the private Fu Wei Film Company, and Fu Wei Film Company went public in the United States in June 2006. The three defendants hold about 65% of the common stock of Fu Wei Film Company. These shares and other personal property will be taken over by the China Municipal Government. CEOXiaoanHe, chairman of Fu Wei Film, said in a press release: "Fu Wei Film believes that the uncertainty that the company has been full of in the past two years has finally come to a conclusion. We believe that the China government will continue to support our long-term development. " The three defendants now appeal against the judgment of the Intermediate People's Court of Jinan City, Shandong Province.