Nov 11, 2023 04:47 AM

FINANCE

Former Head of Citic Bank Gets Death Sentence for Bribery

By Wu Xiaomeng and Denise Jia

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What’s new: Sun Deshun, former president of state-owned China Citic Bank Corp. Ltd., was sentenced to death for bribery with a two-year reprieve.

Sun, 65, was investigated by graft watchdogs in 2019 shortly after he resigned. He was convicted in February 2022 of taking nearly 1 billion yuan ($137 million) in bribes in exchange for favorable loans and credits to businesses between 2003 and 2019.

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