Government and Policy

Former banker gets death sentence with reprieve for graft

(Xinhua)
Updated: 2010-04-15 13:41
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Former banker gets death sentence with reprieve for graft

Wang Yi [File photo] 
BEIJING - Wang Yi, former vice president of the China Development Bank, was sentenced to death with a two-year reprieve here on Thursday for taking bribes.

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Wang, 54, was found to have abused his power when serving as vice president of the bank to make profits for others in return for bribes totaling 11.96 million yuan (about $1.76 million) from November 1999 to February 2008.

He was also deprived of his political rights for life and had all of his personal assets confiscated, according to the Beijing No. 1 Intermediate People's Court.

In February last year, Wang was removed from his post and the Communist Party of China (CPC) Central Commission for Discipline Inspection, the ruling party's internal anti-graft body, stripped him of his CPC membership for "severe violation of discipline and the law."
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