Former Gansu credit union chief pleads guilty to taking bribes

Lei Zhiqiang, former chairman of the Gansu Province Rural Credit Union, pleaded guilty at a trial in Qingyang, Gansu, on Thursday to taking bribes totaling more than 300 million yuan ($44 million). 

Prosecutors accused Lei of taking advantage of various positions he held in the province, including being vice-mayor of Tianshui city, deputy Party chief at the credit union, which offers agricultural loans, and then its chairman. During his time in the three positions, from 2000 to 2017, Lei sought profits for himself, others, and close relatives.  

Lei accepted bribes worth more than 241 million yuan from 42 people during actions including the approval of loans and the selection of cadres. He was also unable to explain the origins of additional assets worth more than 81 million yuan.  

Lei pleaded guilty during a public trial at the Qingyang Intermediate People’s Court. The court will announce a verdict later. 

Born in 1958, Lei was appointed Tianshui’s vice-mayor in 1999. He was appointed deputy Party chief of the credit union in 2005, and its Party chief and chairman in 2007.

Yang Zekun contributed to this story.