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The ex-chairman of the Bank of China, Liu Liange, has received a death sentence with a two-year delay for taking large bribes and granting unlawful loans.
The court in Jinan, Shandong Province, convicted Liu of taking bribes amounting to more than 121 million yuan ($16.8 million).
Liu’s misconduct did not end with that. Additionally, he approved loans totalling 3.32 billion yuan for companies that were not qualified, resulting in a significant loss of over 190.7 million yuan ($27 million).
Liu utilized his roles at the Export-Import Bank of China and the Bank of China to provide favours in return for bribes, such as aid with loan financing, project agreements, and staffing decisions, as reported by Xinhua news agency.
The court’s decision was harsh: along with the death penalty, Liu would permanently lose his political rights and have all his belongings taken away.
The court also directed for his unlawful profits to be seized and returned to the government. This sentence strongly conveys China’s dedication to combatting corruption.
NKONKONSA.com
