Understanding China, One Blog at a Time

An American in China

Now Bankers and Actresses Implicated in Bribery

Posted by w_thames_the_d on April 3, 2010

BEIJING: Two female celebrities and a large amount of money were the star attractions in Tuesday’s bribery trial of Wang Yi, former vice-president of State-run China Development Bank.

Wang, who stood trial at the Beijing No 1 Intermediate People’s Court, pleaded guilty to the charge of accepting bribes of more than 11.96 million yuan ($1.76 million), and confessed that he “used his power and his influence to make profit for others and himself”.

Li, who has also been arrested, said that years ago he invited Wang to attend an opening ceremony for his company in Shenzhen in South China. Zhao arrived with Wang and was later given a 300,000 yuan ($43,944) “appearance fee”, the report said.

Li said Wang also asked him to give Liu 2 million yuan ($292,960) so that Liu could pay off her housing loan. In 2008, Wang then asked Liu to give the money back to Li when the police started to investigate his case, according to the report.

Liu could not be reached for comment on Tuesday because her mobile phone was switched off.

According to charges brought by the No 1 branch of the Beijing Municipal People’s Procuratorate, Wang received all of his bribes by helping others to get loans. He helped Li get a loan for a highway construction project and received about 5 million yuan ($732,402) in return. Wang also allegedly took advantage of his post to help Zhou Hong, chief executive of a steel slag company in Southwest China’s Yunnan province, with business operations and loan applications, in which he received bribes of 6.3 million yuan.

One Response to “Now Bankers and Actresses Implicated in Bribery”

  1. […] Now Bankers and Actresses Implicated in Bribery […]

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