HSBC's top executive jailed for 1 years for 60,000 dollars in bribes

Xinhua Beijing, December 24, according to the Hong Kong "Wen Wei Po" reported that Chen Qingxiao, a former senior vice president of the HSBC Ministry of Industry and Trade, received a bribe of 60,000 US dollars (about HK $460,000) from a Taiwanese businessman in 2007 to apply for credit to the bank and to increase the payment of two credit to the company's two sneaker brands.　　Chen pleaded guilty to a charge of accepting interests and was sentenced to 20 months ' imprisonment 23rd. The 46-year-old defendant, Chen Qingxiao-Tai, was ordered to repay 60,000 dollars to HSBC as compensation.　　In sentencing, the District court judge said that the court must severely all the perpetrators of trade cases to ensure Hong Kong's reputation as a cosmopolitan city, and the credibility and integrity of bankers is vital to Hong Kong's financial activities. The judge added that it was regrettable that the defendant, who was a senior officer of the bank, was taking bribes and was a serious corruption case, and that the defendant had spent years of hard work in establishing a good career and family and had been guilty of being disgraced by the temptation and persuasion of clients.　　Given the good background of the accused, he believed that he was genuinely repentant and had a low chance of recidivism. Ching married and has two daughters, after graduating from Taiwan University, he obtained his master's degree in financial management in the United States in 1990, and in January 2006, he was employed as a senior vice president in Taiwan and was transferred to Hong Kong in May, where he was responsible for discovering new customers and recommending suitable clients to the banks after evaluating their business performance.　　The defense pleaded that the defendant's wife was suffering from depression because of the recurrence of the disease. According to the court's case, Taiwanese businessmen Wang Qingjong in January 2007 and May, respectively, viewable Reach Enterprises Ltd. and Power Beauty Industrial Company Ltd. to apply for USD 2 million credit to HSBC, As well as an increase in credit to $5 million, with the defendants ' recommendation, both applications were approved by the defendant's superiors and, as of November 26 this year, two companies owe HSBC about HK $60 million. The defendant was later revealed to have received a fee of 60,000 dollars from the king, but did not declare it.