Related News
Former Bank of China banker gets 15 years for fund embezzlement
Online Edition
Gao Shan, former banker at the Bank of China, the country’s fourth-biggest lender, was sentenced today to 15 years in prison for embezzlement of over 800 million yuan (US$130.3 million).
Gao was previously head of a sub-branch at the lender in Harbin, capital of northeast China's Heilongjiang Province. He fled to Canada with accomplices in December 2004, and was arrested by Vancouver police in 2007 for giving false details on his application for immigration. He turned himself in to Chinese police in August 2012, and said “the years abroad have been hard, and he wished to come back to tell the truth.”
Other prime suspects of the case, Li Dongzhe and Li Donghu, were sentenced to a life and 25-year imprisonment respectively.
According to the prosecutor, the criminal group illegally obtained the deposits from 26 companies with a total amount of 2.8 billion yuan, which eventually caused 800 million yuan of losses to six companies.
Earlier media reports said Li Dongzhe lured several state-owned companies to deposit huge sums of money in Gao's branch. The money was then transferred by Gao to dozens of accounts controlled by Li.
The high-profile case has sent shockwaves through the banking sector, and along with other corruption scandals led to a large-scale personnel reshuffle in the lender’s local branches.
Other big state-owned banks and the country's financial regulatory system were also called into question.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
