A disgraced former Chinese central bank official admitted he had made a “grave mistake” after being arrested on bribery charges last year.
Fan Yifei, 59, was the most senior official at the People's Bank of China when he was arrested under President Xi Jinping's campaign to eliminate “flies and ants” in the finance, energy and infrastructure sectors.
A documentary on state broadcaster CCTV aired by Tuesday said that during his time at the bank from 2015 to 2022, Mr. Huang participated in a scheme in which he received “unusually large” payments from executives at various companies in exchange for favors. Was. CNN reported.
In the four-part series, fans said: I made a big mistake. ”
“I was completely wrong,” he added on CCTV, detailing Mr Huang's bribery scheme in which he received payments from high-income businessmen through his brother's investment company.
In return, he allegedly helped secure loans and contracts while receiving gifts such as concert tickets and invitations to golf games, according to CNN.
A joint statement by the Central Discipline Inspection Commission and the State Supervisory Commission released last year revealed that Fan had participated in arranging lavish banquets and travel “in violation of regulations for a long period of time.”
According to CNN, government agencies said he also arranged jobs for his relatives, allowing them to take home large salaries without having to actually work.
The program did not say how much money Huang received in total or whether any companies were affiliated with the United States.
After his arrest in June last year, Fan was expelled from the Communist Party and dismissed from his post for serious indiscipline and law violations, state media reported at the time.
He was formally indicted on bribery charges in September following an investigation by the People's Republic of China's highest anti-corruption authority, the State Supervisory Commission.
According to reports, Mr. Fan was one of 100 financial officials sentenced as part of Mr. Xi's anti-corruption campaign.
In the worst case, Lai Xiaomin, former chairman of China Huarong Asset Management, was convicted and sentenced to death for accepting approximately $277 million in bribes between 2008 and 2018.
He was also found guilty of bigamy; reported by bloomberg After an unusually harsh punishment was handed down in early January 2021.
By the end of the same month, Xiaoming was executed.
He was 58 years old.
