Banking

Banking Regulator Sentenced to Death for $70 Million Bribery Scheme

by

ZHENJIANG, China – Former vice-chairman of China’s top banking regulatory body, Cai Esheng, has been handed a death sentence with a two-year reprieve for accepting bribes exceeding 500 million yuan ($70.3 million) and abusing his power. The ruling by the Zhenjiang Intermediate People’s Court in Jiangsu province marks the culmination of a months-long legal saga … Read more

Former China Banking Regulatory Commission Vice Chairman Sentenced to Death with Two-Year Reprieve for $80 Million in Bribes and Abuse of Power

by

Zhenjiang, Jiangsu, China – Former vice chairman of the now-defunct China Banking Regulatory Commission (CBRC), Cai Esheng, has been sentenced to death with a two-year reprieve for accepting over 517 million yuan in bribes and for abusing his power, a court announced on Friday. The punishment could be commuted to life in prison if Cai … Read more