The Dismissal of Fan Yifei: Details Revealed by Chinese Media

2024-01-10 07:16:49

[New Tang Dynasty News, Beijing time, January 10, 2024]Recently, the details of the dismissal of Fan Yifei, the former deputy governor of the Central Bank of China, were exposed. Fan Yifei was the “financial manager” of Wang Qishan, former secretary of the Central Commission for Discipline Inspection, when he was at China Construction Bank.

Fan Yifei will retire on November 5, 2022. On June 9, 2023, Fan Yifei was “double-opened”. At that time, the official report of the CCP stated that Fan Yifei engaged in power-for-money transactions; violated regulations and interfered in law enforcement activities; “relyed on finance to eat finance” and “used money to make money”, and had long-term engaged in power-for-money transactions in the name of “investment”.

On the evening of January 9 this year, the Chinese Communist Party’s official media revealed the details of Fan Yifei’s case.

Fan Yifei admitted in the film that he collected money through other means. If a businessman sends the money to his office, he will not take it. But if the money is given to him or his family in the form of stocks, it will be another outcome.

The report mentioned that Fan Yifei is mainly an investment company run through his younger brother Fan Kan. Many businessmen cooperate with Fan Kan, but in fact they invest in the people behind him.

What Fan Yifei presented were so-called “investment” projects. For example, if he set up a financial product and had his brother’s company come forward as an “investment” as a cover, he could make huge profits. Sometimes, the so-called “investment” does not involve any money at all, but just a false agreement.

Fan Yifei once helped businessman Liu Qi undertake a mobile banking-related project. At the same time, Fan Yifei’s younger brother’s company signed an “agreement” with Liu Qi’s company, which was nominally to acquire part of the equity of Liu Qi’s company. In fact, Fan Kan did not pay a penny. , that is, taking the “stem stock” given by Liu Qi in vain.

In order to please Fan Yifei, Liu Qi ate and chatted with him. The report mentioned that Fan Yifei loved music and playing basketball, so Liu Qi gave him high-end stereos, often invited him to concerts, enjoyed music with him, and played basketball with him. When Lian Fan Yifei fell ill and was hospitalized, Liu Qi even stayed with him every day.

Fan Yifei’s secretary Li Guo was also dragged into the water by Liu Qi and was investigated for accepting tens of millions of yuan in bribes from Liu Qi.

Public information shows that Fan Yifei has worked in the financial system for a long time. He was the youngest deputy governor of the central bank. He was dismissed from office at the age of 58.

Fan Yifei was Wang Qishan’s old subordinate when he was in charge of China Construction Bank. From 1994 to 1997, when Wang Qishan served as the president of China Construction Bank, Fan Yifei was in charge of CCB’s finance and was Wang Qishan’s “financial manager.”

Chinese media once reported that Fan Yifei was taken away directly from his workplace when he was dismissed, and he was still in a meeting around noon that day.

(Editor: Tang Zheng)

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