China’s Judicial Documents website recently disclosed a case in which the daughter-in-law of a bank vice president was convicted of helping to launder money.
In this case, Zhang Xiaofan, daughter-in-law of Xie Ming, former deputy governor of the Chongqing branch of the Industrial and Commercial Bank of China, kept a suitcase with more than 600,000 yuan in bribes for her father-in-law and helped “launder” the money by buying and selling luxury goods and helping to hide the stolen money.
Xie Ming himself retired in 2017, but was investigated for serious disciplinary violations in 2019. According to the Central Commission for Discipline Inspection’s State Supervisory Commission, Xie Ming was politically degenerate, received gifts in violation of the law, engaged in profit-making activities in violation of the law, colluded with unscrupulous business owners, and issued loans in violation of the law. The case is still in the process of judicial review and prosecution, involving hundreds of millions of dollars.
The court sentenced Zhang Xiaofan to four years in prison and a fine of 700,000 yuan for the crimes of “concealing and concealing the proceeds of crime” and “money laundering.
Xie Ming’s son is still at large.
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