Liu Liange, the former chairman of the Bank of China, has been sentenced to death with a two-year reprieve for corruption-related offenses, including accepting bribes and facilitating illegal loans.
The Jinan Intermediate People’s Court in Shandong Province found Liu guilty of accepting bribes amounting to more than 121 million yuan (approximately $16.8 million).
The court also established that Liu authorized illegal loans totaling 3.32 billion yuan to companies that were not eligible for such financing. These actions led to significant financial losses, amounting to over 190.7 million yuan (approximately $27 million).
According to reports by the Xinhua news agency, Liu exploited his influential positions at both the Export-Import Bank of China and the Bank of China to secure personal benefits. He accepted bribes in exchange for providing various forms of assistance, including approving loan financing, securing project agreements, and facilitating personnel appointments.
As part of his punishment, Liu has been stripped of his political rights for life. Additionally, all his personal assets will be confiscated. The court has also mandated the recovery of all illegal earnings derived from his corrupt activities, with the funds to be transferred to the state treasury.
The death sentence, though issued with a two-year reprieve, highlights the severity of Liu’s crimes and underscores China’s ongoing crackdown on high-level corruption.
