16:55     12 November 2023    

Sun Deshun, former president of China CITIC Bank, was sentenced to death with a two-year reprieve for accepting bribes, according to Xinhua. The sentence was handed down to Sun by the Intermediate People's Court of Jinan City in Shandong Province, east China. The court found that between 2003 and 2019, Sun took advantage of his positions at various financial institutions to provide assistance to enterprises in obtaining loans, and in return he illegally accepted money and valuables worth 979.5 million yuan (about 136.5 million U.S. dollars). Sun has been deprived of his political rights for life and his personal property have been confiscated, according to the court verdict. After the two-year reprieve, Sun's death sentence can be commuted to life imprisonment in accordance with the law, but no further reduction or parole will be granted, the court said.