China on Tuesday jailed the former boss of state-owned banking giant Everbright Group for bribery, state media said, the latest official to fall foul of President Xi Jinping’s decade-long corruption crackdown.
Authorities announced the investigation into Li Xiaopeng, the company’s former Communist Party secretary and chairman, two years ago and brought him to trial in October.
CCTV reported that a court in northeastern Heilongjiang found Li guilty of accepting bribes worth over 60 million yuan between 1994 and 2021.
He was sentenced to 15 years in prison and fined six million yuan, CCTV said, adding that he received a lighter punishment for confessing his crimes and cooperating with authorities.
“The property and interest obtained through his bribes have been recovered… and turned over to the state treasury,” CCTV said.
In December, former Everbright chairman Tang Shuangning was jailed for 12 years for embezzlement and bribery. (AFP)
