Liu Liange, the former Chairman, Bank of China, has been sentenced to death with a two-year reprieve by a Court in Jinan, Shandong Province, for accepting bribes and issuing unlawful loans.
The sentencing highlights China’s ongoing crackdown on corruption among high-ranking officials.
The Court found Liu guilty of accepting bribes totaling over 121 million yuan ($16.8 million) during his tenure at both the Bank of China and Export-Import Bank of China.
Investigation revealed that he facilitated illegal loans worth 3.32 billion yuan, resulting in financial losses exceeding 190.7 million yuan ($27 million).
According to state-run Xinhua news agency, Liu abused his influential positions to grant favors, including assistance with loan financing, project deals, and personnel appointments, in exchange for substantial bribes.
In addition to the suspended death sentence, Liu has been permanently stripped of his polity rights, and all personal assets have been confiscated. The Court also ordered the recovery of his illegal earnings, which will be handed over to the State.
This case underscores China’s stringent measures against corruption as part of its broader efforts to ensure accountability in public service and the financial sector.
-9News Nigeria.
