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China Sentenced Former Head of ICBC Shanghai to Lifetime Imprisonment for Receiving $21 Million in Bribes

13th August 2021 | Hong Kong

China has sentenced former Head of ICBC Shanghai Gu Guoming to lifetime imprisonment for receiving $21 million (CNY 136 million) in bribes between 2005 to 2019.  As the Head of ICBC Shanghai, Gu Guoming had took advantage of his position in power, including helping individuals and companies to obtain bank credit.  According to the Shanghai court verdict, Gu Guoming had pleaded guilty and had helped to recover most of the $21 million in bribes. (ICBC ~ Industrial and Commercial Bank of China is the largest bank by assets in China).

“ China Sentenced former Head of ICBC Shanghai to Lifetime Imprisonment for Receiving $21 Million in Bribes ”

 



2021 Data Release
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Lifetime Imprisonment & Death for Corruption

ICBC Bank Building 1
ICBC Bank

In January 2021, China had sentenced former Chairman of China Development Bank Hu Huaibang to lifetime imprisonment for receiving bribes.  In the same month, former Chairman of China Huarong Asset Management Lai Xiaomin was sentenced to death for corruption.

 

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