China gives suspended death sentence to former top banker [Yahoo! Finance]
CHINA MRCHNTS BK UNSP/ADR (CIHKY)
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Source: Yahoo! Finance
A Chinese court has handed a suspended death sentence to Tian Huiyu, an ex-president of China Merchants Bank and previously the right-hand man of the country's former economic tsar, on charges including bribery and insider trading. The sentence comes as Chinese leader Xi Jinping steps up his anti-corruption purge across the vast financial system, which is aimed at consolidating his control over the “lifeblood” of the economy. Tian received a death sentence with a two-year reprieve, according to a verdict announced on Monday by the Intermediate People's Court in Changde city, in central Hunan province. That means the sentence may be commuted to life imprisonment after two years if he does not commit any serious crimes during the two-year period. Tian was also found guilty of three other charges: abusing his positions in state-owned enterprises, using undisclosed information for stock trading and leaking inside information. The court said he had used his privileged access to in
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