Ex-Bank of China Chairman Sentenced to Death for Corruption

Aakhir Tak – In Shorts

1. Liu Liange, ex-chairman of the Bank of China, was sentenced to death for corruption.
2. He accepted bribes worth 121 million yuan ($16.8 million).
3. His assets will be confiscated, and all illegal gains returned to the state.
4. Liu approved illegal loans totaling 3.32 billion yuan.
5. This is part of China’s anti-corruption campaign under President Xi Jinping.

Aakhir Tak – In Depth

Background of the Case

Liu Liange, former chairman of the Bank of China, has been sentenced to death with a two-year reprieve for corruption and illegal loan issuance. The Jinan court found that Liu accepted bribes totaling 121 million yuan (.8 million) and illegally approved loans amounting to 3.32 billion yuan.

Key Findings

The court stated that Liu used his influential positions to grant unauthorized loans, resulting in significant financial losses. His illegal activities involved loan facilitation and project cooperation for personal gain.

Broader Context: Anti-Corruption Drive

This verdict underscores President Xi Jinping’s ongoing anti-corruption campaign, which has punished over a million officials since 2012. The initiative aims to eradicate corruption within China’s political and economic structures, targeting high-profile individuals across sectors.

Aakhir Tak – Key Takeaways to Remember

• Liu Liange was found guilty of accepting substantial bribes.
• The sentence highlights China’s rigorous anti-corruption efforts.
• Liu’s illegal activities caused significant financial damage.
• The case reflects China’s zero-tolerance stance on corruption.

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