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Bank pair sentenced to death
( 2003-08-20 07:50) (China Daily)

Two employees of the China Construction Bank Xi'an branch were Tuesday sentenced to death for graft and the embezzlement of public funds.

The ruling was handed down by the Intermediate People's Court of Xi'an, capital of Northwest China's Shaanxi Province.

The court heard that Zhou Limin, head of the bank's Ziqiang West Road office, collaborated with one of his employees, Liu Yibing, in using high interest rates to attract deposits from institutions and individuals totalling 412.31 million yuan (US$49.8 million) between early 1996 and October 2000.

The two did not register the deposits and they kept the money for their own use, such as for personal investment. But, by the time Zhou and Liu's crimes were discovered, only 278.17 million yuan (US$33.6 million) could be recovered, said the court verdict.

Zhou and Liu were also deprived of their political rights for life and of their personal property.

Yue Jun and nine other accomplices were also found guilty of various crimes, including graft, financial fraud, the embezzlement of public funds, forging financial certificates and harboring criminals by help Zhou and Liu. They were sentenced to prison terms ranging from 26 months to life in yesterday's ruling.

 
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