₦airaland Forum

The former chairman of the Bank of China, Liu Liange, was on Tuesday sentenced to death with a two-year reprieve for corruption and illegal issuance of loans.

He was found to have accepted bribes worth over 121 million yuan ( $16.8 million), a court in Jinan city in China's eastern Shandong Province said in its verdict.

Liu was deprived of political rights for life, all of his personal property will be confiscated, and all his illegal gains must be recovered and turned over to the state treasury, the court sentence read, state-run Xinhua news agency reported.

The court found that Liu had taken advantage of his various positions at the Export-Import Bank of China and Bank of China, respectively, to assist others in matters such as loan financing, project cooperation and personnel arrangements -- while illegally accepting bribes in return.

Moreover, he was found to have knowingly facilitated the issuance of loans totalling more than 3.32 billion yuan to unqualified companies in violation of legal rules, resulting in a principal loss of over 190.7 million yuan (about $ 27 million), the court said.

Liu was the second prominent Chinese banker to have been punished for corruption.

On November 20, China's ruling Communist Party expelled Lou Wenlong, a former vice president of the Agricultural Bank of China, from the party for corruption.

Lou was found to have deliberately resisted the investigation of his case and violated the Party's frugality code by attending banquets that were paid for using public funds or that may influence the fair execution of official duties, the statement said.

Also on Tuesday, a public prosecution was initiated against Wang Yixin, former vice governor of Heilongjiang Province in northeast China, for allegedly accepting bribes.

The Heze Municipal People's Procuratorate in China's eastern Shandong Province filed the case with the city's intermediate court following an investigation by the National Commission of Supervision.

Prosecutors allege that Wang abused his positions in Hainan and Shanxi provinces to secure benefits for others in exchange for bribes described as "extremely large," Xinhua reported.

Since he came to power in 2012, Chinese President Xi Jinping has carried out a massive anti-corruption campaign in which over a million officials, including two former Defence Ministers and dozens of top military officers, were punished.



https://www.business-standard.com/world-news/former-bank-of-china-chairman-sentenced-to-death-on-corruption-charges-124112601316_1.html


https://www.reuters.com/world/china/former-bank-china-chairman-gets-suspended-death-sentence-bribery-state-media-2024-11-26/

The type of judgements we need in Nigeria.

Looks like a suspended sentence, otherwise dude would have been dead by now. Once convicted, you are driven straight to the killing chambers to be sent straight to hell. Something I wish I have the opportunity to do in this country.That is how you fight corruption and corruption won't fight back.

Heilongjiang!? One of the coldest cities in China where they normally have the ice structures during winter.. Very close to the Russian border. Had the best days of my life with a Chinese bombshell from Harbin, the capital City of that stunning province. Beautiful memories . Beautiful China.

owobokiri:
Looks like a suspended sentence, otherwise dude would have been dead by now. Once convicted, you are driven straight to the killing chambers to be sent straight to hell. Something I wish I have the opportunity to do in this country.That is how you fight corruption and corruption won't fight back.

Heilongjiang!? One of the coldest cities in China where they normally have the ice structures during winter.. Very close to the Russian border. Had the best days of my life with a Chinese bombshell from Harbin, the capital City of that stunning province. Beautiful memories . Beautiful China.

u that believe obi is an angel n others are thieves

How can u b fair in your judgement?

If it were in China, Tinubu wouldn't have been in Aso Rock

There's more to this than the bribery allegation.

It's under his watch that he gave out huge loans to finance China's GDP drive by investing in real estate .

There are dozens of brand new towns in China with empty high rise apartment buildings.

The investment did not pay off as most Chinese couldn't afford the down payment and mortgage leading to ghost towns. The real estate investors also sold most of their debt to foreign creditors and when the bubble started , the biggest real estate firm defaulted which led to the CCP directly bailing the real estate and commercial banks that were now heavily in debt.

The CCP are using this guy as an example because he did not see all the red flags on the way and that these building projects nearly did the opposite to China's GDP than intended.

You have to be an expert in discerning reality from propaganda when dealing with communist countries.

Bobloco:
If it were in China, Tinubu wouldn't have been in Aso Rock

Them get Aso Rock for China?

owobokiri:
Had the best days of my life with a Chinese bombshell from Harbin, the capital City of that stunning province. Beautiful memories . Beautiful China.

Was that your CCP assigned girlfriend ?

You do know that every one who goes to China gets a token CCP female member to monitor you and seduce you to liking China ?

The poor thing had no choice in selecting who she will be assigned to or else she would have turned your crusty ass down.

Emiefele: Nigerian government must not see this news

In Nigeria the judge will adjourn the case until thy kingdom come

What most people don't know is that the death sentence is used selectively. It is very rare that the death penalty is used.

It is only applied when such an individual loses favour with the Communist party. It is also applied when the person has brought shame to the country. An instance of this was the baby milk scandal of 2007. Their NAFDAC equivalent had failed in their duties and allowed substandard baby milk to flood the market and news report covered it globally. It was a huge embarrassment and it made one question the quality of Chinese products.

The head of the agency was arrested, promptly charged to court, and sentenced to death. The sentence was carried out the next day.

The message was clear: China would go to any length to defend the quality of its products.

grandstar:
What most people don't know is that the death sentence is used selectively. It is very rare that the death penalty is used.

It is only applied when such an individual loses favour with the Communist party. It is also applied when the person has brought shame to the country. An instance of this was the baby milk scandal of 2007. Their NAFDAC equivalent had failed in their duties and allowed substandard baby milk to flood the market and news report covered it globally. It was a huge embarrassment and it made one question the quality of Chinese products.

The head of the agency was arrested, promptly charged to court, and sentenced to death. The sentence was carried out the next day.

The message was clear: China would go to any length to defend the quality of its products.

Thank you.

The idiots up there don't understand how the CCP operates.

This guy's travails can be traced to the housing bubble that China invested a lot in to grow their GDP. Most of the developers offloaded their debt on the international debt market to keep afloat due to the average chinko not able to meet the down payment and afford the mortgage. China, by the way, has set the threshold for above poverty at a meagre $5 per day or $150 a month or $1,800 per annum to which the vast majority of Chinese fall below this threshold.

No one in China could afford these houses and no one outside China wanted to buy into Chinese real estate after seeing the shoddy state of Chinese construction that bypass every sound engineering and safety regulation.

The central bank chief is being blamed for the housing bubble and for attempting to boost China's GDP with real estate.

Our own go settle judges and den go grant am bail

DomPerignon:
Thank you.

The idiots up there don't understand how the CCP operates.

This guy's travails can be traced to the housing bubble that China invested a lot in to grow their GDP. Most of the developers offloaded their debt on the international debt market to keep afloat due to the average chinko not able to meet the down payment and afford the mortgage. China, by the way, has set the threshold for above poverty at a meagre $5 per day or $150 a month or $1,800 per annum to which the vast majority of Chinese fall below this threshold.

No one in China could afford these houses and no one outside China wanted to buy into Chinese real estate after seeing the shoddy state of Chinese construction that bypass every sound engineering and safety regulation.

The central bank chief is being blamed for the housing bubble and for attempting to boost China's GDP with real estate.

The official is about to be executed for policy failure

No b say him embezzlement or loot public funds

You see am ba? You see the difference? Even communist know how to tackle rubbish leaders.

Here leaders will be opening teeth upandan upon all the multiple policy failures while still yet looting the nations treasury and nothing is done about it.

Nice 👍 one

DomPerignon:
There's more to this than the bribery allegation.

It's under his watch that he gave out huge loans to finance China's GDP drive by investing in real estate .

There are dozens of brand new towns in China with empty high rise apartment buildings.

The investment did not pay off as most Chinese couldn't afford the down payment and mortgage leading to ghost towns. The real estate investors also sold most of their debt to foreign creditors and when the bubble started , the biggest real estate firm defaulted which led to the CCP directly bailing the real estate and commercial banks that were now heavily in debt.

The CCP are using this guy as an example because he did not see all the red flags on the way and that these building projects nearly did the opposite to China's GDP than intended.

You have to be an expert in discerning reality from propaganda when dealing with communist countries.

Oh my!
What a load of utter rubbish!? China will NEVER kill you because of a collective policy failure. China might be brutal with her law enforcement, but one thing they're very good at is to make sure you're guilty of the crime. Even if it takes years for the investigation to be completed, they will wait. This guy must have done something wrong.


China building substandard houses that nobody wants to live in or afford? You're amongst those that still see China as a poor enclave? Hundreds of millions of Chinese can easily buy a million dollar house if they see that as a priority. That's how well distributed their wealth is.
Bro, middle class quarters in Chinese big cities can easily trash the best super rich neighborhoods in Nigeria. Do you even do your own investigations or you just gobble everything thrown at you by the Western press?

Chinese housing market is thriving and is amongst the best both in quality and quantity. Unless you are still looking at China from the old "communist China" lenses.


This was how I was told some years back that the Chinese were so poor they can't afford cars but bicycles. Landed in Guangzhou and all I saw were super cars you would see in Hollywood movies. Recent models that you will never see in Nigeria then, yet it was Nigerians trumpeting the lies cooked by the Western media houses

DomPerignon:
Was that your CCP assigned girlfriend ?

You do know that every one who goes to China gets a token CCP female member to monitor you and seduce you to liking China ?

The poor thing had no choice in selecting who she will be assigned to or else she would have turned your crusty ass down.

Take a look at my profile. That's my daughter and she's half Chinese. Maybe it's the CCP that assigned her to me too? Mentally colonised mofo.

We go back and forth here all day, but to be honest with you, I never knew you're this daft and dense until this thread. All you are writing here are balderdash.

China is far gone. China is a well developing modern country. Leave western propaganda and do your research. The modern infastructure being erected at every corner here on daily basis, will easily trounce those relics you see in the Western world.

You want to visit? Come and I will take you around. Bills on me...

Factcheck0001:
u that believe obi is an angel n others are thieves

How can u b fair in your judgement?

If you can bring out verifiable proof of obi's corruption, then jail him along with the others.

The APC has the efcc and icpc to do that.

The problem is that even the APC cannot accuse him of corruption.

The only people calling him a thief are on nairaland.

owobokiri:
Oh my!
What a load of utter rubbish!? China will NEVER kill you because of a collective policy failure. China might be brutal with her law enforcement, but one thing they're very good at is to make sure you're guilty of the crime. Even if it takes years for the investigation to be completed, they will wait. This guy must have done something wrong.


China building substandard houses that nobody wants to live in or afford? You're amongst those that still see China as a poor enclave? Hundreds of millions of Chinese can easily buy a million dollar house if they see that as a priority. That's how well distributed their wealth is.
Bro, middle class quarters in Chinese big cities can easily trash the best super rich neighborhoods in Nigeria. Do you even do your own investigations or you just gobble everything thrown at you by the Western press?

Chinese housing market is thriving and is amongst the best both in quality and quantity. Unless you are still looking at China from the old "communist China" lenses.


This was how I was told some years back that the Chinese were so poor they can't afford cars but bicycles. Landed in Guangzhou and all I saw were super cars you would see in Hollywood movies. Recent models that you will never see in Nigeria then, yet it was Nigerians trumpeting the lies cooked by the Western media houses

This is what your CCP assigned girlfriend's mission was meant to do - get you loving China and defending the communist state.

Nigerian politicians left the group chat

We really need this kind of legal system here but who will agree to pass the bill?

---

Anyway, if you care to make some dollar cash as a side hustle. Check my siggy, profile, and learn about ST, Cbex. It's about the only thing I can guarantee helps people get daily 10k+ lately

DomPerignon:
This is what your CCP assigned girlfriend's mission was meant to do - get you loving China and defending the communist state.

If you have ever lived in China and you are not in love with the Chinese peoples determined quest to achieve and modernise, then you're obvious as daft as they come. And I'm not surprised, anyone rooting for Tinubu and gang needs an urgent reality check.

I think I have to open a thread to let Nigerians see the amazing developments happening in China. The astonishing structures being erected everyday. The quality services in transportation, housing, sports and leisure, their remarkable work ethnic.. Let's see how Nigerians will evaluate the Chinese example vis avis Western imperialism in Africa.

Trying to scare Africans off China and her over successful economic model with all these nebulous anti communist chants won't fly anymore.

owobokiri:
If you have ever lived in China and you are not in love with the Chinese peoples determined quest to achieve and modernise, then you're obvious as daft as they come. And I'm not surprised, anyone rooting for Tinubu and gang needs an urgent reality check.

I think I have to open a thread to let Nigerians see the amazing developments happening in China. The astonishing structures being erected everyday. The quality services in transportation, housing, sports and leisure, their remarkable work ethnic.. Let's see how Nigerians will evaluate the Chinese example vis avis Western imperialism in Africa.

Trying to scare Africans off China and her over successful economic model with all these nebulous anti communist chants won't fly anymore.

China is a paper tiger held together with ducktape.

It's a communist shithole with soulless bug men who have no loyalty to anything. They are irreligious and only driven by materialism.

Anyone seeing China as a model needs their heads checked.

DomPerignon:
China is a paper tiger held together with ducktape.

It's a communist shithole with soulless bug men who have no loyalty to anything. They are irreligious and only driven by materialism.

Anyone seeing China as a model needs their heads checked.

And America and the West are "God Owns" enclaves with their empty churches, astronomical abortion numbers and men inserting their abunna inside the behinds of fellow men!?
Aaaarrrrrrgggg

NaMe4:
The former chairman of the Bank of China, Liu Liange, was on Tuesday sentenced to death with a two-year reprieve for corruption and illegal issuance of loans.

He was found to have accepted bribes worth over 121 million yuan ( $16.8 million), a court in Jinan city in China's eastern Shandong Province said in its verdict.

Liu was deprived of political rights for life, all of his personal property will be confiscated, and all his illegal gains must be recovered and turned over to the state treasury, the court sentence read, state-run Xinhua news agency reported.

The court found that Liu had taken advantage of his various positions at the Export-Import Bank of China and Bank of China, respectively, to assist others in matters such as loan financing, project cooperation and personnel arrangements -- while illegally accepting bribes in return.

Moreover, he was found to have knowingly facilitated the issuance of loans totalling more than 3.32 billion yuan to unqualified companies in violation of legal rules, resulting in a principal loss of over 190.7 million yuan (about $ 27 million), the court said.

Liu was the second prominent Chinese banker to have been punished for corruption.

On November 20, China's ruling Communist Party expelled Lou Wenlong, a former vice president of the Agricultural Bank of China, from the party for corruption.

Lou was found to have deliberately resisted the investigation of his case and violated the Party's frugality code by attending banquets that were paid for using public funds or that may influence the fair execution of official duties, the statement said.

Also on Tuesday, a public prosecution was initiated against Wang Yixin, former vice governor of Heilongjiang Province in northeast China, for allegedly accepting bribes.

The Heze Municipal People's Procuratorate in China's eastern Shandong Province filed the case with the city's intermediate court following an investigation by the National Commission of Supervision.

Prosecutors allege that Wang abused his positions in Hainan and Shanxi provinces to secure benefits for others in exchange for bribes described as "extremely large," Xinhua reported.

Since he came to power in 2012, Chinese President Xi Jinping has carried out a massive anti-corruption campaign in which over a million officials, including two former Defence Ministers and dozens of top military officers, were punished.



https://www.business-standard.com/world-news/former-bank-of-china-chairman-sentenced-to-death-on-corruption-charges-124112601316_1.html


https://www.reuters.com/world/china/former-bank-china-chairman-gets-suspended-death-sentence-bribery-state-media-2024-11-26/

Naija still dey learn from China. God will need this kind of punishment for heartless politicians

There is more to this than bribery. This guy angered the CCP. CZ, the CEO of Binance once said that China's laws are purposefully vague just so that CCP can have something to hold against you.

Is Chinese law written to enact harsher sentences on people of power and influence than the average joes or
is this simply the effect of the law being applied equally?

The former would actually be a pretty interesting concept.

NSNO:
There is more to this than bribery. This guy angered the CCP. CZ, the CEO of Binance once said that China's laws are purposefully vague just so that CCP can have something to hold against you.

The founder and owner of Ali Baba has gone missing for some years now.

The CCP, like all communist organizations , operates like a mafia with many unwritten rules .

DomPerignon:
Anglo-Saxons, like all communist organizations , operates like a mafia with many unwritten rules .

This is really the truth.

If people in China are still corrupt not minding the fatal consequences then imagine nigeria where anything goes.. tinbu d most corrupt old man ever.

We know the region that is most corrupt