REUTERS
November 6, 2020 at 16:00 JST
Security officials stand guard in front of Tiananmen Gate next to Tiananmen Square in Beijing on June 4. (AP Photo)
BEIJING--A Chinese court sentenced on Friday the former chairman of Hengfeng Bank, Cai Guohua, to death with two-year reprieve after convicting him of abuse of power, corruption, embezzlement, receiving bribes and illegal loans, the court said.
If Cai commits no further crime over the next two years, his sentence will be commuted to life imprisonment, the Dongying City Intermediate People’s Court of Shandong Province said in a statement on its Weibo social media platform.
Last year, Cai’s predecessor Jiang Yunxi was also found guilty of corruption and sentenced to death with two-year reprieve.
Hengfeng bank, based in Shandong province, has been undergoing restructuring since 2017 when the banking and insurance regulatory watchdog appointed its staff to head up the lender due to management and liquidity issues.
In January, the bank received 100 billion yuan in strategic investment through a share sale to state and foreign investors.
Stories about memories of cherry blossoms solicited from readers
Cooking experts, chefs and others involved in the field of food introduce their special recipes intertwined with their paths in life.
A series based on diplomatic documents declassified by Japan’s Foreign Ministry
A series on the death of a Japanese woman that sparked a debate about criminal justice policy in the United States
A series about Japanese-Americans and their memories of World War II
Here is a collection of first-hand accounts by “hibakusha” atomic bomb survivors.