Former school principal jailed for embezzlement

The former principal of a technical school in Shanghai has been sentenced to 13 years in prison for establishing illicit coffers to embezzle more than 3 million yuan ($480,000) from the school.

The principal, identified by the Jiefang Daily as Chen Weiguo, is the former head of a technical school affiliated to a large State-owned company. He began opening off-book accounts since the early 2000s.

He used the coffer funds to open a restaurant, buy a car, cover his family's daily expenses, according to the procuratorate of Shanghai's Songjiang district.

He also embezzled 2.35 million yuan to invest in stocks in 2007 and 2008.

Chen colluded with his subordinates to set up multiple coffers, prosecutors said. Apart from the 13 years imprisonment, he also had 50,000 yuan of his property confiscated.