China Development Bank controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2024
Former China Development Bank vice president Wang Yongsheng sentenced to 12 years in first-instance bribery case
On October 21, 2024, the Jilin City Intermediate People's Court sentenced Wang Yongsheng, former vice president of China Development Bank, to 12 years in prison in the first instance. The court found that from 2010 to 2019 he used the convenience of his CDB-related positions to accept bribes of more than 23.51 million yuan.
2021
Hu Huaibang sentenced to life imprisonment
Hu Huaibang received a life sentence after being convicted of accepting bribes associated with improper project approvals during his time at the bank. Hu Huaibang was announced in July 2019 to be under disciplinary review and investigation. On January 7, 2021, the Chengde Intermediate People's Court at first instance found that he had accepted bribes of more than 85.52 million yuan and sentenced him to life imprisonment. The acts involved periods when he served at Bank of Communications and China Development Bank; he stated in court that he accepted the judgment and would not appeal.