Chinese banker jailed for life in US$483 million corruption case, largest ever in country’s history

A Chinese banker has been sentenced to life in prison in the country’s biggest-ever corruption case arising from the banking sector.

Xu Guojun, whose case involved more than US$483 million from 1993 to 2001, was convicted on charges of embezzlement and misappropriation of public funds by the Jiangmen Intermediate People’s Court in Guangdong province on Wednesday.