Former bank official sentenced to death for corruption

CHENGDU, Sept. 22 (Xinhua) -- Huang Jinjiang, a former bank official in southwest China's Sichuan Province, has been given death sentence for accepting bribes, local court sources said on Saturday.

The Ziyang City's People's Court made the first-instance trial on Sept. 5. Huang was also deprived political rights all his life with the confiscation of all his personal assets.

According to the court verdict, from 1993 to 1997, the defendant Huang took advantage of his posts as president of China Agricultural Bank's subsidiary bank of Dazhou city to seek loans for a local firm after accepting bribes.

Huang accepted seven million yuan (about 930,000 U.S. dollars). Meanwhile, Huang's three colleagues, who will be handled in a separate case, accepted and extorted bribes worth of 3.12 million yuan (about 416,500 dollars).

By now, most part of the illicit money has not been recovered.

Huang's crime also resulted in losses of 700 million yuan in bank loans, which cannot be recovered. (about 93.3 million dollars).

Source