China sentences ex-CDB exec to death with reprieve

BEIJING (Reuters) - The former vice president of China Development Bank, one of China’s three state-backed policy lenders, was sentenced to death for accepting bribes, but was given a two-year reprieve, state media reported on Thursday.

Wang Yi had accepted about 12 million yuan ($1.76 million) in bribes as CDB’s vice president from 1999 to 2008, the official Xinhua news agency said, citing a verdict by the Beijing No 1 Intermediate People’s Court.

Wang was removed from his post in early 2009 after an investigation found he had abused his office to benefit the businesses of family members while personally accepting large bribes.

In China, death sentences with reprieves are usually later commuted to life in jail.

Reporting by Yu Le and Lucy Hornby; Editing by Ken Wills and Ron Popeski