Former Bank of China Chairman Sentenced to Death for Corruption and Illegal Loan Issuance

By Charles Joseph, Nigeria

In a significant development in China’s anti-corruption campaign, Liu Liange, the former chairman of the Bank of China, was on Tuesday sentenced to death with a two-year reprieve for corruption and illegal loan issuance.

The Jinan Intermediate People’s Court in Shandong Province delivered the verdict, finding Liu guilty of accepting bribes exceeding 121 million yuan (approximately USD 16.8 million).

The court also ordered the confiscation of all his personal property and mandated that his illegal gains be recovered and turned over to the state treasury, as reported by the state-run Xinhua News Agency.

Liu was accused of exploiting his roles at both the Export-Import Bank of China and the Bank of China to facilitate illicit activities, including loan financing, project cooperation, and personnel arrangements, in exchange for substantial bribes.

Furthermore, the court established that Liu knowingly approved loans totaling over 3.32 billion yuan to unqualified companies in violation of legal regulations, resulting in a principal loss of more than 190.7 million yuan (about USD 27 million).

The sentence includes the deprivation of Liu’s political rights for life, highlighting the severity of the charges and the government’s continued crackdown on corruption.

Liu’s sentencing is part of a broader anti-corruption drive led by Chinese President Xi Jinping since 2012.

Over the years, this campaign has resulted in the punishment of more than a million officials, including two former defense ministers and several top military officers.