The head of the bank of Binzhou city, Shandong province, in mainland China, was sentenced to seven years in prison for defrauding loans. (Photo/Retrieved from NetEase News)
In order to help his daughter enter a good university through the back door, a bank president in mainland China was defrauded by a man and embezzled bank loans 26 times, involving a total amount of 350 million yuan (regarding NT$1.55 billion).
According to the “Procuratorial Daily” of Lu media, the president of a bank surnamed Li in Binzhou City, Shandong Province met a man surnamed Zhao at the end of 2014. During the chat, Zhao Nan learned that Li Nan’s daughter was preparing to take the college entrance examination, but her grades were not satisfactory. So he claimed that his relative was the vice-principal of a university in Inner Mongolia, and he was acquainted with a number of leaders of the Ministry of Education, who might help connect Li Nan’s daughter to a good university by “going through the back door”.
In order to help his daughter enter a good university, Li Nan has paid Zhao Nan a “guarantee” and “coordination fee” since September 2015. By September of the following year, Li Nan paid a total of regarding 150 million yuan. Then, during the period from November 2016 to March 2018, Zhao Nan pretended to be the anti-corruption director many times, or swindled 200 million from Li Nan 9 times because the education fund was frozen and he needed to make false accounts to deal with the prosecution. more RMB.
In order to raise money for Zhao Nan, Li Nan began to embezzle bank loans by taking advantage of his position as bank president. Fraudulent bank loans of regarding 350 million yuan. It is reported that Li Nan also established an “offensive and defensive alliance” with his brother-in-law and friends surnamed Zhang. The brother-in-law and friends surnamed Zhang forged false loan information, and then he illegally issued loans and diverted bank funds and loans for personal use.
According to the police investigation, Zhao Nan didn’t help at all following defrauding a huge amount of money. Instead, he spent huge sums of money, such as buying luxury cars and famous watches. 100,000 RMB for enjoyment. The case was finally prosecuted by the Boxing County Procuratorate of Shandong Province in April this year, and the court sentenced Li Nan to seven years in prison for fraudulently obtaining loans and illegally granting loans. Sentenced to life imprisonment.
