Bank of China senior manager jailed for taking bribe from property developer

A local court in Haikou, capital of south China's Hainan Province, has sentenced Tang Xiaoping, a senior manager of the Bank of China to five years in jail for taking bribe from a property developer.

The court of Xiuying District announced the verdict on Tang, former assistant to the chief of Hainan Branch of the Bank of China on Tuesday, for taking a bribe of 100,000 yuan (13,000 U.S. dollars) in 2003 in return for approving a loan to a real estate company.

The court found that Tang took the money and then signed off on a loan of 45 million yuan to the developer.

According to the court, Tang has confessed his crime and returned the bribe. So the court gave Tang a lenient penalty.

The court held that Tang committed a crime of bribery and his move disturbed the normal operation of the bank and damaged the incorruptible image of public servants.

Source: Xinhua