Former Bank of China Chairman Liu Liange has been sentenced to death with a two-year reprieve for corruption, marking a significant development in China’s ongoing anti-corruption campaign.
Liu was found guilty of accepting over 121 million yuan (approximately $17 million) in bribes and illegally facilitating loans totaling 3.3 billion yuan to unqualified companies, resulting in substantial financial losses.
The court’s ruling includes the confiscation of all his assets and a lifetime deprivation of political rights. His sentence may be commuted to life imprisonment if he exhibits good behavior during the reprieve period.
Liu’s case reflects President Xi Jinping’s intensified scrutiny of the financial sector, which has seen numerous high-profile officials prosecuted under this anti-graft initiative since its inception in 2012.