High-Stakes Crackdown: China's Anti-Corruption Purge Claims Bank Leader

Former Bank of China chairman Liu Liange received a suspended death sentence for bribery and illegal loan issuance. Liu's sentence, tied to China's anti-corruption campaign, could result in life imprisonment if he refrains from additional crimes. His case highlights ongoing efforts to eradicate financial misconduct.

A court in Shandong province, China, handed down a suspended death sentence to Liu Liange, the former chairman of the Bank of China, for his involvement in bribery and illegal loan issuance, according to state media.

Liu received the death sentence with a two-year reprieve, permitting enforcement only if further crimes are committed during this period. His fall from grace follows his expulsion from the Communist Party amid allegations of illegal activities and bribery.

The judgment is part of a broader crackdown on financial corruption in China, targeting influential figures such as Liu and former deputy central bank governor Fan Yifei, who also faced severe penalties. Liu was implicated in taking substantial bribes and approving significant illegal loans, resulting in massive financial losses.

(With inputs from agencies.)