Liu Guangyi, former director of Jiuzhou branch of the China
Construction Bank in Zhuhai of south China's Guangdong
Province, was sentenced to life in prison on Saturday for
embezzlement of 110 million yuan (US$13.2 million).
From 1996 to 1998, Liu illegally took 826,000 yuan (99,518 US
dollars) by manipulating interests, when serving as a clerk at
Gongbei sub-branch of Zhuhai municipal branch, according to Zhuhai
City Intermediate People's Court.
After he was appointed president of Jiuzhou sub-branch in April
2003, Liu abused his post and embezzled 10 million yuan (US$1.20
million) and another local company's 100 million yuan (US$12.05
million) of deposits, according to the court.
(Xinhua News Agency January 23, 2005)