Liu Liange, the former chairman of the Bank of China, has been sentenced to death with a two-year reprieve for accepting bribes and issuing illegal loans.
A court in Jinan, Shandong Province, found Liu guilty of accepting bribes totalling over 121 million yuan ($16.8 million). He also facilitated loans worth 3.32 billion yuan to ineligible companies, causing a loss of more than 190.7 million yuan ($27 million).
Xinhua news agency reports that Liu ab+sed his positions at both the Export-Import Bank of China and the Bank of China to grant favours in exchange for bribes, including assistance with loan financing, project deals, and personnel arrangements.
In addition to the death sentence, Liu has been stripped of political rights for life, and all his personal assets will be confiscated. The court ordered that his illegal earnings be recovered and handed over to the state.
