On December 5, the Longsha District Court in Qiqihar, Heilongjiang Province, issued a first-instance verdict in the bribery case involving Du Pengfei, former executive general manager of the investment banking department at China Securities Co., Ltd. The court found that Du, as a state employee, abused his position to seek benefits for others and illegally accepted assets of an exceptionally large amount, constituting bribery.
The court sentenced Du Pengfei to 10 years and 2 months in prison, along with a fine of 600,000 yuan. Additionally, his illegal gains totaling 4.1064 million yuan were confiscated and turned over to the state.
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