Southeast Asia Information Port News (www.dnyxxg.com) – Defendant Liu accepted bribes totaling over 150 million yuan (RMB) and abused his influence to accept bribes totaling over 37 million yuan, resulting in a huge amount of unrecoverable loans. Defendant Wu, the president of a state-owned bank, committed multiple crimes. Both defendants were sentenced to death with a two-year reprieve and life imprisonment.
On the 28th, the Supreme People's Court and the Supreme People's Procuratorate of China jointly released typical cases of punishing job-related crimes in the financial sector according to law. Among them, the cases of "Liu's bribery and abuse of influence to accept bribes" and "Wu's bribery, embezzlement of public funds, illegal loan issuance, and irregular issuance of financial instruments" demonstrate the clear stance of the judicial organs in strictly punishing job-related crimes in the financial sector according to law.
In recent years, courts and procuratorates across the country have fully utilized their functions to further consolidate the achievements in strictly combating corruption crimes in the financial sector. This batch of cases includes corruption cases in the financial regulatory field as well as job-related crimes in the banking and trust sectors.
A characteristic of this batch of cases is that the judicial organs accurately punish new types of hidden corruption. In the "Huang bribery case," the defendant accepted bribes by offering "labor remuneration" for joining a company, a typical example of a new type of bribery involving a "revolving door" between government and business. In the "Li and Xu bribery case," the defendants, without actually investing capital, "cooperated" with the person making the request to operate a company, accepting bribes through profit sharing, a typical example of covert corruption.
Commentators have stated that the judiciary has penetrated the "veil" of this new type of covert corruption, sentencing the defendants according to law, making new types of corruption less "new" and covert corruption harder to "hide," thus providing precise and powerful punishment.
The Supreme People's Court and the Supreme People's Procuratorate, in releasing cases, further clarified that courts and procuratorates at all levels must maintain a high-pressure stance in punishing corruption crimes, increase the punishment of job-related crimes in the financial sector, strengthen systematic governance and address both the symptoms and root causes, and continue to exert efforts to eradicate the breeding ground and conditions for financial corruption. (End)
