Former Chinese central banker took ‘extraordinarily massive’ bribes, state media says
CNN
Fan Yifei, a disgraced former Chinese central banker, accepted huge bribes for years, starting from the beginning of his tenure, according to allegations from a documentary by state broadcaster CCTV.
Fan Yifei, a disgraced former Chinese central banker, accepted huge bribes for years, starting from the beginning of his tenure, according to allegations from a documentary by state broadcaster CCTV. Fan, who was one of the People’s Bank of China’s (PBOC) top officials from 2015 to 2022, was charged with bribery in September. The fresh revelations about him came a day after Chinese leader Xi Jinping vowed to go after “flies and ants” as part of an anti-corruption campaign targeting industries such as finance, energy and infrastructure. The CCTV program, which aired on Tuesday as part of a wide-ranging, four-part series, detailed the extent of Fan’s alleged crimes while he was the deputy governor. It described how he had received “extraordinarily massive” payments from executives of various companies in exchange for favors after taking up the PBOC’s second-highest position. “I wanted to possess great power, and at the same time, to be rich,” Fan said in the documentary. “I made a huge mistake.” According to CCTV, Fan accepted payments from businesspeople through his brother’s investment company. In return, he allegedly helped them secure loans and contracts. He also allegedly accepted gifts, such as concert tickets and invitations to golf games from others trying to get close to him. The program did not specify how much money Fan had accepted overall.
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