Former Deputy Governor of the People’s Bank of China, Fan Yifei, aged 60, has been sentenced to death for receiving bribes. The court found Fan guilty of unlawfully accepting assets worth over 386 million yuan.
Fan was accused of using his positions at the central bank and various other financial institutions, including the China Construction Bank, to enrich himself through illicit means.
According to court documents, Fan exploited his authority to amass wealth illegally, undermining the ethical standards expected of someone in such a high-ranking role within China’s financial system.
The extent of the corruption scandal shocked many, given the vast amount of wealth Fan accumulated through these underhanded deals. His actions were deemed a gross violation of public trust and a clear breach of the laws meant to prevent such misconduct in China’s financial sector.
In addition to the death sentence, the court noted that Fan’s penalty would be commuted to life imprisonment, given his willingness to cooperate with authorities.
Fan reportedly confessed to his crimes and took steps to return the illicit assets he had gained during his tenure. This act of cooperation likely influenced the court’s decision to reduce his sentence from an immediate execution to a life sentence, conditional upon his compliance with the legal proceedings.
Fan’s conviction and subsequent punishment are part of a broader anti-corruption campaign led by the Chinese government, aimed at rooting out corruption within both the public and private sectors.
Over recent years, China has increased its efforts to crack down on corruption, particularly targeting high-ranking officials, in an effort to restore public confidence in its institutions and governance.
