Li Jiping, a former vice president of China Development Bank, was sentenced to 14 years in prison for accepting bribes by a court in central China's Henan Province on Monday.

Li was also fined 4 million yuan (about $555,000), and his illegal gains from bribery will be turned over to the state treasury, according to a verdict issued by the court.

The court found that between 2001 and 2021, Li used his various positions with China Development Bank to assist others in matters such as loan approval and project contracting, and accepted money and valuables worth over 57.3 million yuan in return.

Li was granted a lenient sentence considering that he was cooperative during the investigation and had shown remorse, according to the court.