Home Foreign News China sentences ex-banker Gu Guoming to life jail for bribery

China sentences ex-banker Gu Guoming to life jail for bribery

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China, Gu Guoming, jail, bribery

China sentences ex-banker Gu Guoming to life jail for bribery

China on Thursday sentenced Gu Guoming, a former senior banker at Industrial and Commercial Bank of China (ICBC) to life in jail after being found guilty of bribery, state media said on Thursday.

China’s top anti-graft body has put high-profile financial officials under increased scrutiny in recent years, with a focus on the banking sector since 2019, to halt corruption linked to high-risk loans and official appointments.

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Gu, previously the head of ICBC’s Shanghai branch, was also stripped of his political rights for life.

He was convicted of taking about 136 million yuan ($21 million) in bribes from 2005 to 2019, according to the verdict given by the Shanghai No.1 Intermediate People’s Court, Xinhua news agency reported.

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Gu was accused of taking advantage of his various positions at ICBC to seek favours for others, and assisted some individuals and companies to obtain bank credit and investments.

 

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