MAN SENTENCED TO DEATH WITH REPRIEVE OVER NANHAI LOAN FRAUD CASE

in its initial trial, the Foshan Intermediate People's Court, sentenced Lin Yuhang, former president of the Industrial and Commercial Bank, Nanhai Sub-branch, to death with reprieve and six others to sentences ranging from 12 years imprisonment to life. It was reported that the convicts set up the "Hua Guang" Group Co with more than a dozen subsidiary companies between 1993 and 2001.
It was uncovered that Lin Yuhang loaned 914m yuan and 5m US dollars of bank money to the fraudulent company and received 33.1m yuan and 300,000 Hong Kong dollars in bribes from those setting up the "Hua Guang" Group.