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Ex-chairman of China's Hengfeng Bank sentenced to death

The Yantai Intermediate People's Court in Shandong province, China, sentenced to death Jiang Xiyun, former chairman of HENGFENG BANK CO. Ltd., for corruption, bribery and illegally issuing financial notes, among others, Reuters reported Dec. 26.

Under the court verdict, Jiang's sentence will be converted to life imprisonment if he commits no further crimes over the next two years.