Former Vice President of China Construction Bank Shenzhen Branch, Li Huafeng, was sentenced to 15 years for bribery and money laundering on April 22.
According to the Shandong High Court, Li Huafeng’s bribery, using his influence to accept bribes, and money laundering case was publicly judged on April 22 at the Intermediate People’s Court in Qingdao, Shandong Province.
Li Huafeng was accused of using his position as the deputy secretary of the party committee and vice president of the Shenzhen Branch of China Construction Bank from the first half of 2013 to May 2020 to provide assistance in approving loans for relevant units, accepting money and goods totaling more than 14.09 million yuan (RMB). After resigning from the Shenzhen Branch of China Construction Bank, Li Huafeng illegally accepted gifts totaling 8.1 million yuan from April 2021 to January 2024. Additionally, he instructed others to transfer 3.6 million yuan of the bribe money through multiple accounts to pay for the purchase of a house, constituting a money laundering crime.
Li Huafeng was sentenced to 11 years in prison and fined 1.5 million yuan for bribery, 8 years in prison and fined 800,000 yuan for using his influence to accept bribes, and 1 year in prison and fined 200,000 yuan for money laundering. The total sentence imposed was 15 years in prison and a fine of 2.5 million yuan. All proceeds from his crimes were confiscated and turned over to the state treasury.