China: Huang Jinjiang, a former bank manager from Sichuan province, is to be executed after being convicted of accepting bribes totalling 7 million yuan between 1993 and 1997.

In return for the bribes Huang approved bank drafts to a local firm. His actions cost the Agricultural Bank of China to lose 700 million yuan or $108 million. Three of his colleagues are also on trial for taking smaller bribes.

Corrupt bank manager to be executed

A FORMER bank manager has been sentenced to death for taking payoffs that led to losses of 700 million yuan ($108 million) by a Chinese court.

Huang Jinjiang accepted 7 million yuan in bribes between 1993 and 1997 from a local firm seeking to borrow money, the official Xinhua news agency reported.

At the time, Huang headed a branch of the Agricultural Bank of China in the southwestern province of Sichuan.

After accepting the bribes, he signed off on bank drafts in the company’s favour that resulted in losses of 700 million yuan, Xinhua said.

The report said three of Huang’s colleagues would be tried separately for taking bribes worth 3.12 million yuan.