Jilin Province Trust’s Former Chairman Sentenced to 14 Years in Prison

What’s new: Tai Ge, former chairman of Jilin Province Trust Co. Ltd. was sentenced to 14 years in prison for bribery, corruption and abuse of power as an executive of a state-owned enterprise.

Tai was also fined 3 million yuan ($936,200), according to a sentence disclosed Monday by Baicheng Intermediate People’s Court.

Between 2010 and 2019, Tai used his positions as vice president of Bank of Jilin and as general manager and chairman of Jilin Province Trust to provide help to companies and individuals in exchange for 69.3 million yuan of bribes, the court found. He also embezzled more than 2 million yuan of public funds at Bank of Jilin and abused his power in bank loan recoveries, causing 35 million yuan of losses to state interests.