Nanjing, Jiangsu province, China – Former vice-chairman of China’s top banking regulatory body, Cai Esheng, has been handed a death sentence with a two-year reprieve for his involvement in bribery and abuse of power. The ruling by the Zhenjiang Intermediate People’s Court concludes a lengthy legal process for the 72-year-old Cai.
The court found that Cai, during his tenure from 2006 to 2021, used his position to offer assistance with securing financing, loans, business contracts, job promotions, and more. In return, he amassed illicit gains exceeding 400 million yuan. Additionally, the court determined that his actions as vice-chairman of the former China Banking Regulatory Commission resulted in substantial losses to state assets and public interests.
Cai’s offenses were deemed extremely serious, justifying the death penalty due to the significant impact on society and the substantial losses incurred by the state and people. However, given Cai’s confession, disclosure of unknown bribery instances, and some unsuccessful bribery attempts, the court opted for a two-year reprieve.
This reprieve means that Cai will be closely monitored for the next two years. If he avoids further criminal activity during this time, his sentence will be commuted to life imprisonment without the possibility of parole or further sentence reduction. Cai, a native of Hubei province, spent his career in the financial sector and had served as vice-chairman of the now-defunct China Banking Regulatory Commission before its restructuring.
Cai’s legal troubles began in July 2021, leading to his expulsion from the Communist Party in January 2023 and his formal prosecution in June of the same year. The public hearing for his case concluded in July 2023.
In summary, former vice-chairman Cai Esheng has been sentenced to death with a two-year reprieve for his involvement in bribery exceeding 500 million yuan and abuse of power. The ruling by the Zhenjiang Intermediate People’s Court in Jiangsu province marks the culmination of a months-long legal process for the 72-year-old Cai. If he remains crime-free for the next two years, his sentence will be commuted to life imprisonment without the possibility of parole or further sentence reduction.