Former Bank of China chairman sentenced to death on corruption charges
Liu Liange, former Party chief and chairman of Bank of China, was sentenced to death with a two-year reprieve in a first-instance trial on Tuesday for accepting large sums in bribes. The sentence was delivered by the Jinan Intermediate People's Court in East China's Shandong Province, according to China Central Television (CCTV).
During his tenure from 2010 to 2023, Liu took bribes of 121 million yuan ($16.7 million) to assist with loans, projects, and personnel arrangements. He approved illegal loans amounting to 3.32 billion yuan from 2017 to 2020, causing losses of over 190.7 million yuan.
Liu was sentenced to death with a two-year reprieve, stripped of his political rights for life and had all personal assets seized. He also received a 10-year prison term and a 150,000 yuan fine for illegal loan issuance. His illicit gains and their proceeds will be seized and handed over to the state treasury, according to CCTV.
Liu Liange, 63, a native of Northeast China's Jilin Province, was expelled from the Party in 2023 and formally indicted in February 2024.
In recent years, China has stepped up its crackdown on financial sector corruption. This November, some officials from major state-owned banks, including the Industrial and Commercial Bank of China, China Construction Bank, were investigated for bribery and embezzlement, according to the Central Commission for Discipline Inspection's website.
Liu was the second prominent Chinese banker to have been punished for corruption.
On November 20, China's ruling Communist Party expelled Lou Wenlong, a former vice president of the Agricultural Bank of China, from the party for corruption.
Lou was found to have deliberately resisted the investigation of his case and violated the Party's frugality code by attending banquets that were paid for using public funds or that may influence the fair execution of official duties, the statement said.
Also on Tuesday, a public prosecution was initiated against Wang Yixin, former vice governor of Heilongjiang Province in northeast China, for allegedly accepting bribes.
The Heze Municipal People's Procuratorate in China's eastern Shandong Province filed the case with the city's intermediate court following an investigation by the National Commission of Supervision.
Prosecutors allege that Wang abused his positions in Hainan and Shanxi provinces to secure benefits for others in exchange for bribes described as "extremely large," Xinhua reported.
Since he came to power in 2012, Chinese President Xi Jinping has carried out a massive anti-corruption campaign in which over a million officials, including two former Defence Ministers and dozens of top military officers, were punished.
Also on Tuesday, a public prosecution was initiated against Wang Yixin, former vice governor of Heilongjiang Province in northeast China, for allegedly accepting bribes.
The Heze Municipal People's Procuratorate in China's eastern Shandong Province filed the case with the city's intermediate court following an investigation by the National Commission of Supervision.
Prosecutors allege that Wang abused his positions in Hainan and Shanxi provinces to secure benefits for others in exchange for bribes described as "extremely large," Xinhua reported.
Since he came to power in 2012, Chinese President Xi Jinping has carried out a massive anti-corruption campaign in which over a million officials, including two former Defence Ministers and dozens of top military officers, were punished.
Comments
Post a Comment