According to Xinhua News Agency, the Jinan Municipal Government briefed reporters on the 15th that the “12.06” forgery financial ticket case involving more than 10 billion yuan (US$ 1.6 million) which happened in 2010. It is learned that on 14 the Jinan Intermediate People’s Court pronounced the verdict of first instance, the defendant Liu Jiyuan was sentenced to life imprisonment.
The Court has examined and confirmed that from November 2008 to November 2010 the defendant Liu Jiyuan, took the corporate deposits and open account in the bank under the name of the company without authorization and used forgery loans information, bank certificates of deposit, wire transfer certificates and use other means to defraud banks loans and company funds totaling 10.13 billion yuan (US$ 1.62 million). After the incident, 8.29 billion yuan stolen money in total was collected back.
The court held that the defendant’s conducts constituted loan fraud, financial instrument fraud, bills fraud and fraud. The four charges brought the consequences to principal criminal including life imprisonment and deprivation of political rights for life and confiscation of all personal property.
Source: Beijing News