On February 27, the WeChat public number “Qinghai High Court” news said that from February 24 to 26, Wang Li, the former inspector and deputy director of Qinghai Local Financial Supervision Bureau, was suspected of embezzlement, bribery, misappropriation of public funds, abuse of power by state-owned enterprise personnel, and large amount of property from unknown sources.
Wang Li was accused of using the convenience of his position as president and chairman of Xining Commercial Bank and chairman and president of Qinghai Bank to embezzle public property in huge amounts; accepting huge amounts of property from others for the benefit of others; misappropriating public funds for profit-making activities; abusing his power to make the state interests suffer particularly significant losses; and having property and expenses that clearly exceeded his legitimate income, with a particularly large difference, and not being able to explain the source.
Wang Li, 58, worked at the Xining Branch of the Central Bank as secretary, deputy director and director of the branch’s office, and later as director of the office of the Xining Branch of the State Administration of Foreign Exchange; from December 1997 to September 2005, he served as vice president and executive vice president of Xining Commercial Bank; from September 2005, he served as director of Xining Commercial Bank (the bank was renamed in 2008 as “Qinghai Bank”) as President and Deputy Secretary of the Party Committee, and from July 2007, he also served as Chairman of the Bank; from April 2009 to July 2018, he served as Secretary of the Party Committee, Chairman and President of the Bank.
After serving as president of Qinghai Bank for nearly 13 years and chairman of the board for 11 years, Wang Li became a member of the party group, inspector and deputy director of the Qinghai Provincial Financial Work Office from July 2018, and was promoted to deputy director of the office (at the department level) four months later. on September 4, 2019, Wang Li was investigated and was double-opened and arrested in February 2020 and prosecuted in June 2020.
Wang Li had been described as “very greedy” and “simply without a bottom line” by officials from the Case Supervision and Management Office of the Qinghai Provincial Discipline Inspection and Supervision Commission of the Communist Party of China.
On January 8, 2021, the website of the State Commission for Discipline Inspection reported on Wang Li’s Life of “luxury”, saying that Wang Li used a private residence to hide stolen money and goods, and that she wore the luxury items she collected (such as gems and necklaces) on her own body, but did not dare to wear them outside the house.
The report said that all the decoration of the private residence is the most high-end, the walls are painted by a painter. Wang Li involved in the stolen goods in addition to 500,000 yuan of commemorative banknotes, there is a kilogram of a Gold bar, in addition to musk, Qinghai’s expensive specialties, a whole cabinet of Hermes silk scarves, brand-name bags, etc..
The report said that Wang Li bribery amount, a large single bribe amounted to two or three million yuan, a small one also has 100,000 yuan.
In addition, when Wang Li was transferred to Xining Commercial Bank in 1997 as vice president and executive vice president, it was the Time when Zhao Leji, a member of the Standing Committee of the Communist Party of China, was also secretary of the Xining Municipal Committee as deputy secretary of the Qinghai Provincial Committee, and the establishment of the bank was a key project of Zhao Leji, who was in charge of finance and finance. The company’s main business is to promote the development of the company’s products and services.
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