China Citic Bank
Former president of China Citic Bank pleads guilty to accepting 1 billion yuan in bribes
Beijing: Sun Deshun, former president of China Citic Bank Corporation, went on trial recently after being accused of taking almost one billion yuan in bribes, media reports said.
Sun Deshun had served as the president of Citic Bank, one of the country’s largest state-owned banks, between 2016 and 2020.
He pleaded guilty to accepting bribes worth more than 979.5 million yuan ($155 million) over a 16-year period working for different banks, according to a statement by a court in Shandong province, reports The South China Morning Post.
The Intermediate People’s Court in Jinan city said that Sun took advantage of his positions to illegally help others to obtain loans and credit lines between 2003 to 2019, reports the newspaper.
The statement said Sun expressed remorse for his actions.
His sanctions will be announced later.
This is the second biggest bribery case so far in the anti-corruption drive targeting China’s financial sector, the newspaper added.
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