Former bank chairman sentenced to death
Jiang Xiyun, the former chairman Hengfeng Bank Co., has been sentenced to death with a two-year reprieve by a Chinese court for making illegal gains of over $100 million.
Bloomberg reports that Yantai Intermediate People’s Court gave the ruling.
He was convicted for moving 754 million yuan ($108 million) worth of Hangfeng shares to his personal account between 2008 and 2013.
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Xiyun was also found guilty of taking bribes of more than 60 million yuan together with another bank executive.
However, a reprieved death sentence may be commuted to a life sentence if the person shows good behavior within the allotted period.
