Ex-CSRC Vice Chairman Gets Life for Bribery
On.cc · 2 SOURCESabout 3 hours ago4 MIN
Summary
A court in Weifang, Shandong, on Monday sentenced former China Securities Regulatory Commission vice chairman Wang Jianjun (王建軍) to life imprisonment for bribery. The first-instance ruling also imposed lifelong deprivation of political rights, confiscation of all personal assets, and the turnover to the state of recovered illicit gains and related proceeds, with any shortfall to be pursued further.
Key Points
- The Weifang Intermediate People's Court in Shandong publicly delivered the first-instance verdict on September 7, convicting Wang of bribery and imposing a life sentence.
- The court said Wang took advantage of posts including deputy head of the CSRC's Yunnan office, deputy director of its general office, and head of market supervision.
- From the first half of 2005 to September 2019, he sought benefits for companies and individuals in listings, corporate financing and business contracting.
- He was found to have illegally accepted property worth more than 93.4 million yuan, reported by one outlet as about HK$110 million.
- The court said the bribery amount was especially huge and caused especially major losses to state and public interests, but noted his confession, remorse and partial recovery of assets.
Why It Matters
The case centers on misconduct by a former senior securities regulator in matters tied to listings and financing, areas closely watched by Hong Kong investors and intermediaries with exposure to mainland capital markets. The ruling also shows that courts weighed both the scale of the bribery and Wang's cooperation, producing a life sentence rather than a death penalty