After more than a year, Yang Jiacai, the former powerful figure in the China Banking Regulatory Commission, was finally sentenced to 16 years in prison and fined 2 million yuan.

According to the news released by the WeChat public account Puyang today on July 24, on July 19, 2018, the Intermediate People's Court of Puyang City, Henan Province ruled that Yang Jiacai was guilty of accepting bribes and sentenced to 14 years in prison and a fine of 2 million yuan;Committed a huge amount of property of unknown origin, sentenced to 5 years in prison.Combined execution, Yang Jiacai was sentenced to 16 years in prison and fined 2 million yuan.

Yang Jiacai said in court that he accepted the sentence and would not appeal.

Soliciting or receiving more than 20 million property through his wife and children

The Puyang Municipal People's Procuratorate stated that from 1998 to 2017, the defendant Yang Jiacai used his positions as the vice president of the Wuhan Branch of the People's Bank of China, the deputy director of the Hubei Supervision Bureau of the China Banking Regulatory Commission, the director of the Anhui Supervision Bureau, the director of the Banking Supervision Department of the China Banking Regulatory Commission, and the assistant to the chairman of the China Banking Regulatory Commission.The convenience of the director of the general office, etc., seeking benefits for Wuhan Sanyuan Real Estate Company, Wuhan Rural Commercial Bank, Wu, Fang and other individuals, directly or through his wife Dai (handled in another case), and his son Yang (handled in another case)Illegally soliciting or accepting other people's property, equivalent to a total of 23.0862 million yuan.Defendant Yang Jiacai is a state employee, and his property and expenditure obviously exceeded his legal income. There was still a difference of 31.59593229 million yuan. Yang Jiacai could not explain the source.Defendant Yang Jiacai said in court that he accepted the sentence and would not appeal.

On May 23, 2017, the official website of the Central Commission for Discipline Inspection announced that Yang Jiacai, a member of the Party Committee of the China Banking Regulatory Commission and assistant to the chairman, is suspected of serious violations of discipline and is currently undergoing organizational review.When the news came out, the market was quite shocked.

Since 2017, with the successive fall of Xiang Junbo and Yang Jiacai, anti-corruption actions in the financial sector have gradually pushed into deep water.

A Chinese reporter from a brokerage firm previously reported that a guess about why Yang Jiacai was investigated was brought out after the incident with Yang Dongping, the former chief risk officer of the Bank of Communications.A person close to the regulatory authority revealed to a brokerage China reporter that the investigation team went to Wuhan in 2016 to investigate matters related to Yang Jiacai.According to another report, Yang Jiacai's case involved a loan case of a real estate company in Wuhan, which was brought out by Bank of Communications Chief Risk Officer Yang Dongping after the incident.The two have overlapping jobs in Hubei, and the relationship is very good.The verdict also coincided with the aforementioned speculation.

Has been rated as humorous and adaptable

When the news that Yang Jiacai was assisted in the investigation came out in early April last year, an insider of the China Banking Regulatory Commission told a brokerage reporter in China that he was quite shocked by the investigation of Yang Jiacai.

Yang Jiacai also has a lot of activities with the media. He often behaves humorously in public, and he has strong adaptability on the spot.Before the two sessions last year, Guo Shuqing was accompanied by Yang Jiacai in his first public appearance as the chairman of the China Banking Regulatory Commission.One detail is that at the press conference of the State Council Information Office at that time, Yang Jiacai pointed out that there was less illegal fundraising in Shandong Province.Guo Shuqing then said, you only praised me when I became the chairman. Why didn't you praise me when I was in Shandong?Yang Jiacai immediately smiled and said, suffering from no chance.

In the eyes of the media, Yang Jiacai has a lot of golden sentences.

At the press conference of the State Council Information Office mentioned above, when talking about illegal fund-raising, Yang Jiacai said that illegal fund-raising is a process from love to hatred, from chaos to abandonment: in the early stage, they were a community of interests.Come together and become a community of interests, just like a girl falling in love with an unrevealed liar.If the parents intervene at this time, it will be considered as beating a mandarin duck. She doesn't understand, saying that you don't care about this matter, we live well, but when she makes a mistake and the deception is uncovered, she regrets it too late.

At the end of 2014, when he participated in the China Trust Industry Summit held by the China Banking Regulatory Commission, Yang Jiacai used a love poem by Hu Shi to describe the state of the trust industry: The wind blows in the sky, the moon shines on the two of us, why did you hide behind closed doors last year?Who hides?Who hides?That was me last year.

Yang Jiacai’s last public appearance was at the China Banking Regulatory Commission briefing on April 7, 2017. He introduced in detail the focus of the work of the China Banking Regulatory Commission this year, followed by the implementation of intensive and strong regulatory policies in seven documents in two weeks.At this meeting, Yang Jiacai also said that risks in the financial industry are ubiquitous and ubiquitous, and risk supervision is the eternal theme of financial supervision, just like the eternal theme in literature is love.

There are also new developments in the case of Yao Gang, the former vice chairman of the China Securities Regulatory Commission

The Intermediate People's Court of Handan City, Hebei Province opened a public hearing on July 11 to hear the case of Yao Gang, former member and vice chairman of the Party Committee of the China Securities Regulatory Commission, for accepting bribes and insider trading.

From 2006 to 2015, Yao Gang took advantage of his positions as assistant to the chairman and vice chairman of the China Securities Regulatory Commission to provide assistance to relevant units in matters such as suspension and resumption of stock trading during mergers and acquisitions, share transfers, and avoidance of administrative penalties, Illegally received other people's property through their relatives, totaling more than RMB 69.61 million.

From January to April 2007, Yao Gang, the defendant, took advantage of his position as assistant to the chairman of the China Securities Regulatory Commission and director of the Issuance Supervision Department to obtain insider information about the reorganization and listing of relevant companies, and used the stock accounts of other people actually controlled by him to trade in related stocks before the suspension of trading.Buying and selling after resumption of trading, the illegal profits totaled more than 2.1 million yuan.During the trial, Yao Gang made a final statement and pleaded guilty in court.The case is scheduled for sentencing.

Yao Gang is the highest-ranking official in the CSRC system so far, and has been in charge of the CSRC's issuance and review power for 13 years.

There are still big cases that may be dug up

As the deleveraging of the financial industry continues to advance, financial anti-corruption will also be a major focus in the financial sector in recent years.

On April 17, 2018, the website of the Central Commission for Discipline Inspection and the National Supervisory Commission announced that Lai Xiaomin, Secretary of the Party Committee and Chairman of China Huarong, was subject to disciplinary review and supervisory investigation on suspicion of serious violations of discipline and law, which also became the first major financial case in 2018.A number of people close to China Huarong revealed that Lai Xiaomin is still under investigation, but because his illegal behavior is more prominent and serious, it is expected that the judiciary will impose stricter sentences in the future.

According to incomplete statistics, as of now, more than 60 executives and officials have been investigated in the financial system in recent years, including Xiang Junbo, Yao Gang, and Zhang Yujun, and about 20 supervisors have been investigated. Bank