Former ICBC discipline chief sentenced for bribery

JINAN -- A Chinese court on Tuesday sentenced Liu Lixian, the former head of the discipline inspection commission at the Industrial and Commercial Bank of China (ICBC), one of the country's major national banks, to eight years in prison for bribery charges.

Liu was found to have accepted bribes worth over 17.76 million yuan (about $2.5 million), according to a verdict issued by a court in East China's Shandong province.

He was fined 2 million yuan, and all his illegal gains will be recovered and turned over to the state treasury, the verdict read.

The court found that Liu had taken advantage of his various former positions at the Supreme People's Procuratorate, China Huarong Asset Management Co., Ltd., and the ICBC to assist others in matters such as business operations, case handling and job recruitment.

Liu voluntarily surrendered in August 2022 and was placed under investigation in September 2023.