Former ICBC executive gets death sentence with reprieve for taking US$24 million in bribes
Zhang Hongli, a former vice-president of the Industrial and Commercial Bank of China (ICBC), has been sentenced to death with a two-year reprieve for accepting over 177 million yuan (US$24.3 million) in bribes. The Intermediate People’s Court of Hangzhou found Zhang guilty of leveraging his position at ICBC from 2011 to 2022 to assist entities and individuals with loan financing and job opportunities in exchange for bribes.
The court cited the "particularly huge bribery amount, serious criminal circumstances, and detrimental social impact" as justification for the death sentence, noting the "significant loss" to the country and its people. However, the two-year reprieve was granted due to Zhang's cooperation with authorities, including confessing his crimes, providing information on previously unknown bribery cases, and returning a substantial portion of the illicit funds. He has been stripped of his political rights for life, and all his assets have been seized. Zhang was initially placed under investigation by China’s top anti-corruption watchdog in November 2023.
via SCMP Full Text Feed
Zhang Hongli, a former vice-president of the Industrial and Commercial Bank of China (ICBC), has been sentenced to death with a two-year reprieve for accepting over 177 million yuan (US$24.3 million) in bribes. The Intermediate People’s Court of Hangzhou found Zhang guilty of leveraging his position at ICBC from 2011 to 2022 to assist entities and individuals with loan financing and job opportunities in exchange for bribes.
The court cited the "particularly huge bribery amount, serious criminal circumstances, and detrimental social impact" as justification for the death sentence, noting the "significant loss" to the country and its people. However, the two-year reprieve was granted due to Zhang's cooperation with authorities, including confessing his crimes, providing information on previously unknown bribery cases, and returning a substantial portion of the illicit funds. He has been stripped of his political rights for life, and all his assets have been seized. Zhang was initially placed under investigation by China’s top anti-corruption watchdog in November 2023.
via SCMP Full Text Feed
