China jailed a former top central banker on Thursday for life for bribery, state media said, part of a years-old crackdown on corruption.
Fan Yifei, once a deputy governor of the People鈥檚 Bank of China, had been under investigation since November 2022.
He was accused of illegally receiving property worth 386 million yuan ($55 million) over the two decades prior to that.
State broadcaster CCTV said Thursday that a court had found Fan guilty and sentenced him to death, immediately commuted to life imprisonment. It added that the court in central Hubei province decided not to execute him because he pleaded guilty, assisted investigators and returned the money.
Fan 鈥榰sed... his power and status to provide assistance to relevant units and individuals in loan financing, business contracting, job transfers and other matters鈥�, according to CCTV.
鈥楾he circumstances of the crime were extremely serious, the impact on society was particularly pernicious, and the interests of the people and state suffered extremely heavy losses,鈥� the broadcaster said.
