Bank's former VP found guilty of taking 12 m yuan in bribes

Beijing - Wang Yi, former vice-president of the China Development Bank (CDB), one of the country's three State-backed policy lenders, was sentenced to death with a two-year reprieve on Thursday for accepting nearly 12 million yuan ($1.8 million) in bribes.

The sentence means Wang Yi's behavior in prison will be assessed for two years, following which he will have a chance to appeal for leniency. In China, death sentences with reprieves are usually commuted to life in prison.