Former Bank of China Chairman Liu Liange Sentenced to Death with Two-Year Reprieve for Corruption

Liu Liange, the former chairman of the Bank of China, has been sentenced to death with a two-year reprieve for accepting bribes and approving illegal loans. The verdict was delivered by the Jinan Intermediate People’s Court in Shandong Province on November 26, 2024. This sentence is part of China’s ongoing and aggressive crackdown on corruption within its financial sector.

Liu was convicted of taking bribes totaling 121 million yuan (approximately $17 million) and approving illegal loans worth 3.32 billion yuan (approximately $466 million). These actions resulted in financial losses exceeding 190 million yuan (approximately $26.7 million).

In addition to the death sentence, Liu’s personal assets will be confiscated, and he will be deprived of his political rights for life. In China, a death sentence with a two-year reprieve typically means the penalty may be commuted to life imprisonment if no further offenses are committed during the reprieve period.

Liu, born in 1961, held prominent positions in China’s banking sector, including roles at the People’s Bank of China and the Export-Import Bank of China, before becoming the chairman of the Bank of China in 2019. However, his career was marred by his expulsion from the Communist Party in October 2023 for illegal activities and corruption.

Liu’s case is part of a broader anti-corruption campaign targeting high-profile figures in China’s financial sector. The court noted that Liu “truthfully confessed” to his crimes and that most of the stolen money and assets had been recovered, influencing the decision not to enforce the death penalty immediately).