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Chinese Ex-banker, Gu Guoming Sentenced To Life Imprisonment For Bribery

Posted by Amarachi on Thu 12th Aug, 2021 - tori.ng

He was convicted of taking about 136 million yuan in bribes from 2005 to 2019, according to the verdict given by the Shanghai No.1 Intermediate People’s Court.

Gu Goming

Gu Guoming

A former senior banker at Industrial and Commercial Bank of China (ICBC), Gu Guoming has been sentenced to life imprisonment after he was found guilty of bribery, state media said on Thursday.

China’s top anti-graft body has put high-profile financial officials under increased scrutiny in recent years, with a focus on the banking sector since 2019, to halt corruption linked to high-risk loans and official appointments.

Gu, previously the head of ICBC’s Shanghai branch, was also stripped of his political rights for life.

He was convicted of taking about 136 million yuan ($21 million) in bribes from 2005 to 2019, according to the verdict given by the Shanghai No.1 Intermediate People’s Court, Xinhua news agency reported.

Gu was accused of taking advantage of his various positions at ICBC to seek favours for others, and assisted some individuals and companies to obtain bank credit and investments.