Former Bank Chairman Sentenced To Death

Liu Liange, the former chairman of the Bank of China, has been handed a death sentence with a two-year reprieve after being convicted of corruption and illegal financial practices.

The Jinan Intermediate People’s Court in Shandong Province delivered the judgment, highlighting Liu’s extensive abuse of power.

Liu was found guilty of accepting bribes totaling over 121 million yuan (approximately $16.8 million) and facilitating illegal loans worth 3.32 billion yuan, which resulted in a significant financial loss of 190.7 million yuan (around $27 million). These offenses were committed during his tenure at the Export-Import Bank of China and the Bank of China, where he leveraged his positions to grant favors in exchange for illicit gains.

The court revealed that Liu accepted bribes to assist with loan approvals, project deals, and personnel appointments, exploiting his influence for personal enrichment. In addition to the death penalty, Liu’s political rights have been permanently revoked, and his personal assets are to be confiscated. The court also mandated the recovery of his illegal earnings, which will be transferred to the state.

Liu’s sentencing is part of China’s ongoing crackdown on corruption within its financial institutions, a campaign that aims to restore public confidence in the nation’s banking sector.
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