Fan Yifei, the former deputy governor of China’s central bank, has been sentenced to death with a two-year reprieve for accepting bribes, according to reports from Chinese state media on Thursday.
This sentence is part of a large-scale anti-corruption campaign led by President Xi Jinping, aimed at tackling corruption within the financial sector.
Fan’s conviction highlights the extent of corruption China is determined to address, especially among high-ranking officials in influential positions.
According to the Huanggang Intermediate People’s Court in Hubei province, Fan was found guilty of accepting bribes totaling over 386 million yuan, equivalent to around sh. 7 billion.
He allegedly used his powerful positions within the central bank and other financial institutions, including China Construction Bank, to obtain substantial wealth illegally.
Fan’s activities were considered to have severely harmed the interests of both the state and its citizens.
The court underscored the severity of the charges against him, emphasizing that his actions had a profoundly negative impact on society.
Under the terms of his sentence, Fan’s death penalty will be commuted to life imprisonment after a two-year reprieve period.
However, he will not be eligible for any further commutation or parole, meaning he will spend the rest of his life in prison.
This form of sentencing is relatively common in China’s judicial system for cases involving significant corruption, allowing the possibility of life imprisonment in place of execution.
Fan, aged 60, is the highest-ranking official at the People’s Bank of China to face such charges as part of President Xi’s anti-corruption drive.
Launched over a decade ago, this campaign aims to rid the government and financial sectors of officials engaged in corrupt practices, safeguarding state interests and public trust.
Fan’s conviction reflects the continued enforcement of this campaign, as China seeks to uphold accountability within its financial institutions.
Suspects Arrested In Mombasa For Extorting Shop Owners with Fake Raids, Charged Today
