Bank of China ex-chairman receives suspended death sentence for bribery
Kyiv • UNN
Liu Lianghe was sentenced to death with a two-year suspended sentence for bribery worth $17 million. He had illegally approved loans worth 3.32 billion yuan, resulting in losses of 190 million yuan.
The former head of Bank of China, Liu Lianghe, was sentenced to death for bribery and illegal loan issuance. He was sentenced with a two-year reprieve. This was reported by Reuters with reference to Chinese media, UNN reports.
Details
Liu Lianghe was sentenced to death with a two-year suspended sentence, meaning that the sentence will be carried out only if he commits new crimes during this period. In the event of a stay, he will be sentenced to life in prison
Liu has worked in banking and financial institutions, including the central bank People's Bank of China and the Export-Import Bank of China, before being promoted to the position of Governor of the Bank of China in 2019.
In October last year, the ruling Chinese Communist Party expelled him from its membership, accusing him of illegal activities and taking bribes.
The newspaper notes that in recent months, China's anti-corruption service has launched a crackdown on the financial sector. The court said that Liu took advantage of his position to secure promotions for many people, and that the amount of bribes received was “particularly huge” - more than 121 million yuan ($17 million).
Since Liu has confessed to the crime and most of the stolen money and property in the case has been recovered, the death penalty will not be immediately carried out. During his tenure, Liu violated laws by approving loans worth more than 3.32 billion yuan, resulting in losses of more than 190 million yuan ($13.6 million).
Recall
Chinese President Xi Jinping has promised to strengthen anti-corruption measures in the country, especially in capital-intensive sectors, and to make punishment for people who offer bribes more severe.
