Deported Chinese banker gets 12 years

02 Apr, 2006

A former Bank of China manager convicted in the United States before being deported to face corruption charges at home has been sentenced to 12 years in prison, the official Xinhua news agency reported on Saturday.
It said Yu Zhendong was sentenced on Friday by the Intermediate People's Court in the city of Jiangmen, in China's southern Guangdong province.
The court also ordered confiscation of 1 million yuan ($125,000) from Yu, who was charged with graft and embezzlement of public funds, Xinhua said.
A former head of the Bank of China in the city of Kaiping, Yu was accused of collaborating with two other bank executives to embezzle $82 million from the bank, according to Xinhua.
The trio also used names of other enterprises to apply for loans worth hundreds of millions of dollars, the report said. All three fled to the United States and Canada in 2001 via Hong Kong.
A US federal court in Las Vegas sentenced Yu to 144 months in prison in February 2004 after he pleaded guilty to racketeering charges.

Read Comments