On February 5, 2024, the Intermediate People's Court of Changde City, Hunan Province publicly sentenced Tian Huiyu, the former Party Secretary and President of China Merchants Bank Co., Ltd., for accepting bribes, abusing power by state-owned company personnel, trading on undisclosed information, insider trading, and leaking inside information. In the case, the defendant Tian Huiyu was sentenced to death for accepting bribes, suspended for two years, deprived of political rights for life, and confiscated all personal property; sentenced to five years in prison for abuse of power by state-owned company personnel; and sentenced to trading using undisclosed information Sentenced to seven years in prison and fined RMB 300 million; sentenced to three years in prison and fined RMB 8.5 million for the crime of insider trading and leaking inside information. It was decided to execute the death penalty with a two-year suspended sentence and be deprived of political rights. Life, and all personal property shall be confiscated; Tian Huiyu’s criminal proceeds and interest shall be recovered in accordance with the law and turned over to the state treasury.
After trial, it was found that: from 1997 to 2022, the defendant Tian Huiyu used his position as vice president of China Cinda Trust and Investment Company, member of the Party Committee and vice president of Bank of Shanghai Co., Ltd., deputy secretary of the Party Committee and deputy secretary of the Party Committee of Shanghai Branch of China Construction Bank Co., Ltd. Vice President, Secretary of the Party Committee and President of Shenzhen Branch of China Construction Bank Co., Ltd., Secretary of the Party Committee and President of Beijing Branch of China Construction Bank Co., Ltd., Secretary of the Party Committee and President of China Merchants Bank Co., Ltd. and other positions, and Facilitating conditions formed by authority and status provided assistance to relevant units and individuals in matters such as loan approval, business contracting, and job transfers, and illegally received property equivalent to a total of more than 210 million yuan in RMB. When Tian Huiyu served as Party Secretary and President of China Merchants Bank Co., Ltd., he violated regulations, abused his power, and interfered with the normal business decision-making activities of subsidiaries of China Merchants Bank Co., Ltd. for personal gain, causing particularly heavy losses to national interests. Tian Huiyu used undisclosed information other than inside information obtained due to his position, violated regulations, and engaged in securities trading activities related to the above information, making illegal profits of more than 290 million yuan. Tian Huiyu, as an insider of securities insider information, bought the securities before the relevant information was made public, or leaked relevant information, expressly or implying that others were engaged in the above-mentioned trading activities, and made an illegal profit of more than 8.07 million yuan.
The Changde Intermediate People's Court held that defendant Tian Huiyu's behavior constituted the crimes of bribery, abuse of power by state-owned company personnel, trading using undisclosed information, insider trading, and leaking inside information. The amount of bribes Tian Huiyu accepted was particularly huge, the circumstances of the crime were particularly serious, the social impact was particularly bad, and it caused particularly heavy losses to the interests of the country and the people. He should be sentenced to death for his crime. As an employee of a state-owned company, he engaged in favoritism and abuse of power, causing particularly heavy losses to the interests of the country. The circumstances of trading in undisclosed information are particularly serious, and the circumstances of insider trading and leaking inside information are particularly serious and should be punished in accordance with the law. In view of the fact that after he arrived at the case, he proactively handed over most of the bribery facts, insider trading, and leakage of inside information that were not yet known to the case handling agency. The crime of insider trading and leakage of inside information constituted a surrender. He pleaded guilty and repented, and actively returned the stolen goods. All proceeds from the crime have been recovered. In this case, there are statutory, discretionary and mitigating circumstances. He is sentenced to death for the crime of accepting bribes, but it may not be executed immediately. The crime of abuse of power by state-owned company personnel and the crime of using undisclosed information for trading can be given a lighter punishment. The crime of insider information Crimes of trading and leaking inside information may be punished with reduced penalties. The court then made the above judgment. (CCTV reporter Zhang Sai)