Former Bank of China Chairman Liu Liange Sentenced to Death with Reprieve

Liu Liange, the former chairman of Bank of China, was sentenced to death with a two-year reprieve on Tuesday, November 26, 2023, in the city of Jinan, Shandong Province. The court found him guilty of accepting bribes worth over 121 million yuan (approximately 16.8 million USD) and illegally issuing loans.

Liu was accused of using his positions at the Export-Import Bank of China and Bank of China to provide assistance to others in loan financing, project cooperation, and personnel arrangements. In return, he accepted bribes. Additionally, he was found to have facilitated the issuance of loans totaling over 3.32 billion yuan to unqualified companies, violating legal rules and resulting in a principal loss of over 190.7 million yuan.

As punishment, Liu was deprived of political rights for life, all his personal property was confiscated, and all his illegal gains were recovered and turned over to the state treasury.

The court's decision highlights China's ongoing efforts to combat corruption within its financial institutions.