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Former banker on trial for graft

By Hou Liqiang (China Daily) Updated : 2018-07-21

Jiang Xiyun, former president of national commercial lender Hengfeng Bank, went on trial in Shandong province from Tuesday to Friday for alleged crimes including corruption and accepting bribes.

The case was publicly heard in the Yantai Intermediate People's Court.

Jiang appropriated 750 million yuan ($110 million) of Hengfeng Bank's stock and gave it to companies controlled by him and his relatives, taking advantage of his post, from January 2008 to January 2013, the local procuratorate said at court.

It also said the 69-year-old accepted or illegally asked for money and property of about 60.4 million yuan from companies and individuals that he helped buy Hengfeng stock or get loans from 2004 to 2013. Jiang accepted 23 million yuan of the illicit gains with Zhao Chunying, then Hengfeng's finance chief.

In September 2014, Jiang asked Hengfeng Bank employee Sun Jinguang to destroy accounting documents of five companies Jiang controlled.

The other three involved in the alleged crimes also stood trial in the court.

The verdict will be announced at a later date.