Liu Guangyi, former director of Jiuzhou branch of the China Construction Bank in Zhuhai of south China's Guangdong Province, was sentenced to life in prison on Saturday for embezzlement of 110 million yuan (US$13.2 million).

 

From 1996 to 1998, Liu illegally took 826,000 yuan (99,518 US dollars) by manipulating interests, when serving as a clerk at Gongbei sub-branch of Zhuhai municipal branch, according to Zhuhai City Intermediate People's Court.

 

After he was appointed president of Jiuzhou sub-branch in April 2003, Liu abused his post and embezzled 10 million yuan (US$1.20 million) and another local company's 100 million yuan (US$12.05 million) of deposits, according to the court.

 

(Xinhua News Agency January 23, 2005)