China jails ex-top banker for life over US$13 million bribes

A CHINESE court jailed a former top banker for life for earning up to US$13.2 million in bribes today, the second high-level graft conviction to hit the country’s financial sector this week. 

Hu Huaibang, a former party secretary and chairman of the China Development Bank, pleaded guilty in July to using his position to receive money and goods worth a total of  ¥85.5 million (RM53.2 million) between 2009 and 2019.