Former chairman of Bank of China receives death sentence

(MENAFN) Liu Liange, the former chairman of the bank of China, has been sentenced to death with a two-year reprieve for accepting bribes totaling nearly $17 million and for illegally issuing loans, according to Xinhua News Agency. Liu, who led the bank until his resignation in March 2023, was arrested in October of the previous year. The ruling mandates the confiscation of his personal property, with all illegal gains to be handed over to the state.

The two-year reprieve was granted because Liu cooperated with authorities and expressed remorse, meaning his sentence will only be carried out if he commits further crimes within the period. If not, he will serve a life sentence. Liu is the latest high-profile figure sentenced as part of President Xi Jinping's sweeping anti-corruption campaign, which targets corruption within China’s vast financial sector. This campaign has led to multiple high-level figures, including former deputy central bank governor Fan Yifei, also receiving death sentences with reprieves. Despite public support for Xi's anti-corruption efforts, critics argue that the campaign is used to eliminate political rivals and strengthen his hold on power.

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