FUZHOU, Aug. 25 (Xinhua) -- Lou Wenlong, a former vice president of the Agricultural Bank of China, was sentenced to life in prison for taking bribes, a court in east China's Fujian Province announced Monday.
Lou has been deprived of his political rights for life, all of his personal property will be confiscated, and his illegal gains from bribery will be recovered and turned over to the national treasury, according to the verdict issued by the Quanzhou Municipal Intermediate People's Court.
The court found that between 2005 and 2024, Lou took advantage of his various posts, including those at the then China Banking Regulatory Commission and the Agricultural Bank of China, to benefit others in matters such as regulatory approvals, financing and loans, and project contracting. In exchange for his assistance, he accepted money and valuables worth more than 84.51 million yuan (about 11.88 million U.S. dollars).
Lou stood trial on June 6 and pleaded guilty and expressed remorse in his final statement. ■
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