February 29, 2024
Chinese Ex-Central Bank Executive Sentenced To 16 Years For Graft
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Chinese Ex-Central Bank Executive Sentenced To 16 Years For Graft

A former senior official at China’s central bank has been sentenced to more than 16 years in prison for corruption, Chinese media reported yesterday.

Sun Guofeng, formerly head of the monetary policy department at the People’s Bank of China, exchanged information for bribes totalling 21 million yuan ($3 million), according to financial news site Caixin, citing a document released by prosecutors.

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Sun also used inside information about a Shanghai-listed company to make gains on the stock market, according to Caixin. The 51-year-old was investigated last year on suspicion of alleged corruption.

Sun was sentenced to 16 years and six months in prison.

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