Former head of one of the world's largest banks, Bank of China, sentenced to death
The former chairman of the board and secretary of the party committee of one of the world's largest banks, Bank of China, Liu Liange, has been sentenced to death.
The man received such a severe punishment, according to the Supreme People's Procuratorate of the PRC, for bribery.
The verdict was made public by the Intermediate People's Court of Jinan City, Shandong Province.
For accepting bribes, Liu Liange was sentenced to capital punishment “with a two-year deferment of execution, lifelong deprivation of political rights, and confiscation of all personal property,” MIA Rossiya Segodnya quotes an excerpt from the prosecutor’s office statement.
It should be added that Bank of China is the oldest financial and credit institution in China and one of the largest in the world.
Corrupt bankers
In recent years, many high-profile bankers have become subjects of high-profile criminal investigations in China.
Thus, a month ago, the former deputy head of the People's Bank of China, Fan Yifei, was sentenced to death with a reprieve.
In October, former vice president of China Development Bank Wang Yongsheng received a 12-year prison sentence for accepting bribes.
And in early November, another former vice president of this bank, Zhou Qingyu, was sentenced to 15 years in prison – accused of corruption.
In addition, in November, hearings began on the corruption case of former deputy chairman of the Industrial and Commercial Bank of China (ICBC) Zhang Hongli.
That same month, Lou Wenlong, former vice chairman of the Agricultural Bank of China (the country's third-largest bank), was expelled from the Chinese Communist Party after he was put under investigation.
For reference
A bank is a credit and financial institution operating on the basis of a special permit (license), for which specific opportunities for operations with monetary funds related to the provision of financial services to legal entities and individuals are established by law.
