#Even a bank president can be scammed? Don't use your daughter as an excuse; at the end of the day, it's your own greed.
[4] Compiled from: Red Star News
Case review
From June 2013 to February 2018, Li, in collusion with Sun and Zhang, successively forged the operational cash flows, capital certificates, and loan documents of 26 companies, and five times used others' identities for "proxy loans," defrauding the bank of 350 million yuan in loans. All illegal proceeds, aside from being squandered by Li and his accomplices, were swindled by Zhao.
"My uncle is a vice president of a university and is well-acquainted with several leaders of the Ministry of Education, with extensive connections to get children into a good university..." Deceived by Zhao's not-so-clever lie, a bank president named Li, worried about his daughter's education, fell for the scam 26 times, becoming a pitiful victim and gradually transforming from a leading cadre into a "moth" who fraudulently obtained loans and illegally issued loans.
Recently, Li was sentenced to seven years in prison by the court for the crime of fraudulently obtaining loans and illegally issuing loans. Prior to this, on March 11, the Shandong Provincial High Court issued a final ruling on Zhao's fraud case, rejecting Zhao's appeal and upholding the original verdict.
Thus, this massive fraud case, spanning seven years and involving 350 million yuan, has finally come to an end.
"Criminal Law of the People's Republic of China"
Article 175a Crime of Fraudulently Obtaining Loans, Acceptance of Bills, or Financial Instruments
Obtaining loans, acceptance bills, letters of credit, guarantees, or the like from banks or other financial institutions by fraudulent means, causing significant losses to the bank or other financial institution or having other serious circumstances, shall be punished with fixed-term imprisonment of not more than three years or criminal detention, and/or a fine; if causing particularly significant losses to the bank or other financial institution or having other particularly serious circumstances, shall be punished with fixed-term imprisonment of not less than three years but not more than seven years, and a fine.
If a unit commits the crime in the preceding paragraph, the unit shall be fined, and the directly responsible supervisors and other directly responsible personnel shall be punished in accordance with the provisions of the preceding paragraph.
Article 186: Crime of Illegally Granting Loans
Where an employee of a bank or other financial institution grants loans in violation of state regulations, if the amount is huge or causes significant losses, they shall be punished with fixed-term imprisonment of not more than five years or criminal detention, and a fine of not less than 10,000 yuan but not more than 100,000 yuan; if the amount is particularly huge or causes particularly significant losses, they shall be punished with fixed-term imprisonment of not less than five years, and a fine of not less than 20,000 yuan but not more than 200,000 yuan.
Where an employee of a bank or other financial institution grants loans to related parties in violation of state regulations, they shall be given a heavier punishment in accordance with the preceding paragraph. Where a unit commits the crime in the preceding two paragraphs, a fine shall be imposed on the unit, and the directly responsible supervisors and other directly responsible personnel shall be punished in accordance with the preceding two paragraphs. The scope of related parties shall be determined in accordance with the Commercial Bank Law of the People's Republic of China and relevant financial regulations.
[1] The author's perspective
It is noteworthy that in this case, Li was convicted of two crimes: the crime of fraudulently obtaining loans and the crime of illegally granting loans. The latter was because, as a bank employee, he used his official position to grant loans to others in violation of laws and regulations, while the former was because he also conspired with others to forge the production and operation records, capital certificates, and loan documents of 26 companies, and five times used others' names for "nominal loans," defrauding the bank of 350 million yuan in loans. Thus, Li committed two criminal acts in different capacities, leading to combined punishment for multiple crimes.
Driven by personal desires and a fluke mentality, Li, to satisfy the various unreasonable demands fabricated by Zhao He, disregarded party discipline and national laws, unable to brake on the path of crime, causing particularly huge economic losses to the state, and ultimately paid a heavy price.
