(Yicai) Nov. 27 -- Liu Liange, the former Communist Party secretary and chairman of Bank of China, was sentenced to death with a two-year reprieve for accepting bribes of over CNY1.2 billion (USD166.8 million).

Taking advantage of his positions, including vice chairman and president of Export-Import Bank of China and chairman of BOC, Liu illegally aided entities in loan financing, project cooperation, and personnel arrangements between 2010 and 2023, receiving over CNY1.2 billion in bribes, according to a first-instance verdict issued yesterday by the Intermediate People’s Court of Jinan in Shandong province.

Among the crimes, Liu facilitated the issuance of loans worth a total of CNY3.2 billion to enterprises he was fully aware did not meet the related requirements. These acts resulted in nearly CNY191 million (USD26.3 million) in loan principal loss.

In addition to the death penalty, Liu was ordered to hand over all his personal properties and return the proceeds from his crimes to the state treasury.

Liu was placed under investigation for suspected “serious violations of discipline and law” by the Central Commission for Discipline Inspection and the National Commission of Supervision on March 31.

Liu, 62, stepped down from all his positions at BOC on March 18. The following day, the Beijing-based lender released a statement saying that his resignation was due to personnel adjustments, thanking Liu for his “outstanding contributions” during his tenure.

Editor: Futura Costaglione