Fan Yifei, a former vice governor of the People's Bank of China, was tried on Thursday at a court in Huanggang, central China's Hubei Province, on charges of taking bribes worth over 386 million yuan (about 54.35 million U.S. dollars).
According to the prosecutors, Fan took advantage of his various positions, including vice governor of the central bank, vice president of China Investment Corporation, and vice president of China Construction Bank, to benefit organizations and individuals regarding loans, financing, project contracting, and job transfer between 1993 and 2022.
The prosecutors, the defendant, and his lawyers cross-examined the evidence and gave their respective accounts, according to a court statement.
In his final statement, Fan pleaded guilty and expressed remorse.
The trial was attended by more than 40 people, including lawmakers, political advisors, and members of the public.
The verdict will be announced in due course.
Andy Ibáñez homers twice, Ryan Vilade gets first MLB hit, RBIs as Tigers outslug Guardians 11
Scenery of Xiaxi Reservoir in SW China's Guizhou
China's electricity use mirrors economic recovery
Silk Road int'l expo pushes for deeper Belt and Road cooperation
Drake and Kendrick Lamar's feud, explained
Hongjiannao National Nature Reserve in NW China's Shaanxi, sanctuary for relict gulls
Xi's Article on Deepening Reform of Party, State Institutions to Be Published
Liberal icon Bernie Sanders is running for Senate reelection, squelching retirement rumors
Sparks move home game against Caitlin Clark and Indiana from Long Beach to downtown Los Angeles
News Analysis: U.S. hits technical recession, but many sectors remain healthy