Liu Jinbao, a former CEO of Bank of China Limited and vice-chairman of Bank of China, was a former chairman of Bank of China Limited and vice chairman of Bank of China. The Bank of China is now negotiating to sell stakes to high-profile foreign investors, including the Royal Bank of Scotland, Temasek Holdings, the Singapore state investment company, and UBS brokerage, ahead of its initial public offering. Mr Liu's death sentences are usually commuted to life in prison, but it will still be a much more serious punishment than those handed down to other senior Chinese bank executives in recent years of similar crimes. Mr Liu and three junior colleagues were arrested in Changchun, in the north-east of the country, far from the commercial centers of Shanghai and Hong Kong, where they had been stationed, as in a number of similar cases recently. Liu was abruptly transferred back to Beijing to become vice-chairman of Bank of China in May 2003. Liu was convicted of financial crimes after his previous employment as the head of the Bank of China's Shanghai branch.
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