Former Bank of China Chairman Sentenced to Death in China

The Shandong Provincial Court in China has sentenced Liu Liang, the former chairman of the Board of Bank of China, to death with a two-year suspension. This was reported by the Xinhua agency.

The court found him guilty of accepting bribes exceeding 121 million yuan (approximately 16.8 billion dollars) and granting illegal loans amounting to 3.3 billion yuan (around 450 million dollars).

In China, a suspended death sentence typically means that the death penalty will be commuted to imprisonment if the convict does not commit new offenses during the suspension period. An investigation into Liu Liang began in March 2023.

Recently, China has been actively campaigning against corruption in the financial sector. Many players in the industry have become targets of numerous anti-corruption investigations and unannounced audits.