Former Chairman of China Development Bank Sentenced to Life in Prison for Graft

Former Chairman of China Development Bank Sentenced to Life in Prison for Graft
The headquarters of China Development Bank (CDB) in Beijing on Sept. 23, 2018. Florence Lo/Reuters
Frank Yue
Updated:

A Chinese court has sentenced Hu Huaibang, the former chairman of China Development Bank (CDB), to life in prison on bribery-related crimes. He is the second high-profile financial executive to be sentenced this week.

The Intermediate People’s Court of Chengde city, in China’s Hebei Province, handed down the sentence on Jan. 7. Hu’s personal property will also be confiscated by authorities.

Frank Yue
Frank Yue
Author
Frank Yue is a Canada-based journalist for The Epoch Times who covers China-related news. He also holds an M.A. in English language and literature from Tianjin Foreign Studies University, China.
Related Topics