Jun 15, 2024 05:39 PM
CHINA
Ex-China Development Bank Top Executive Charged With Taking Millions in Bribes
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Source: WeChat account of the Changchun Intermediate People's Court
Zhou Qingyu, former vice president of China Development Bank, the country’s biggest policy lender, has been charged with taking bribes totaling almost 70 million yuan ($ 9.6 million) across a decade, according to China’s highest court.
Facing court in Changchun Intermediate People's Court in Jilin province Friday, the 62-year-old former banker was charged with accepting bribes worth 67.43 million yuan from 2013-2023 to help others secure loans, business contracts and personnel arrangements, according to a report published on the Supreme People’s Court website.
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- Zhou Qingyu, former VP of China Development Bank, charged with taking 67.43 million yuan ($9.6 million) in bribes from 2013-2023.
- Despite his removal in July 2022, Zhou continued accepting bribes and using his influence to benefit entities and individuals.
- Zhou's case is part of a broader crackdown on corruption at the bank, with over 30 former leaders and managers, including ex-chairman Hu Huaibang, investigated or sentenced.
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What Happened When
- 2013-2023：
- Zhou Qingyu took bribes totaling almost 70 million yuan.
- 2016：
- Zhou was promoted to be the policy lender’s vice president in charge of the bank’s core businesses.
- Early 2021：
- Former chairman Hu Huaibang was sentenced to life imprisonment.
- May 2023：
- CCDI announced the graft investigation into Zhou.
- July 2023：
- Zhou was removed from his office.
- After July 2023：
- Zhou continued to take bribes.
- Friday, As of October 2023：
- Zhou faced court in Changchun Intermediate People's Court in Jilin province.
- November 2023：
- CCDI concluded that Zhou had engaged in several corrupt activities.
AI generated, for reference only
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