Ex-China Life Chairman Gets Suspended Death Sentence for Bribery

Wang Bin, a former chairman of China Life Insurance (Group) Co., was sentenced to death with two-year reprieve for bribery and concealing overseas deposits.

A court in Jinan in eastern China’s Shandong province pronounced the sentence Tuesday. Wang received a suspended death sentence for accepting bribes totaling 325 million yuan ($44.6 million) and a one-year jail term for illegally concealing 54.2 million yuan in overseas deposits, according to the verdict.