In past similar cases, courts have ruled that banks should bear most of the compensation liability for the property losses suffered by depositors.
Following the successive suicides of bank wealth management manager Wang Moushan and her husband Meng Mou, the mystery surrounding the tens of millions of yuan in funds left behind by the two has emerged as a new focus of public attention.
Wang Moushan, a wealth management manager at the Shangqiu Branch of Postal Savings Bank of China (PSBC), from 2017 until the case came to light in April 2025, took advantage of her role in serving multiple depositors to secretly manipulate their accounts. She transferred funds from some depositors' bank cards to associated accounts under her control through various means, including transfers and the purchase of wealth management products.
Multiple depositors have confirmed the authenticity of these events, with many being elderly individuals over the age of 60.
Ms. Shang, daughter of depositor Chen Mozhi, revealed that more than 1.6 million yuan from her parents' bank accounts was successively transferred and embezzled, and her father passed away shortly after learning the devastating news.
Statistics show that the embezzled bank depositor funds involve over 10 households, totaling more than 10 million yuan, while an additional 10 million yuan or so consists of private funds borrowed by Wang Moushan.
In April 2025, Wang Moushan was found dead by hanging at her home in Shangqiu. Four months later, on August 11, her husband, who was already under investigation, committed suicide by burning charcoal at home.
On October 13 this year, as the two had died, the Shangqiu police issued a "Case Dismissal Decision" to depositor Chen Mozhi and others, stating that due to the death of the suspect, the case was dismissed in accordance with Article 16, Item (5) of the Criminal Procedure Law of the People's Republic of China. The police also suggested that victims hire lawyers to file civil lawsuits with either the court in their place of residence or the court where the bank branch is located. Additionally, the police disclosed that relevant assets such as real estate, vehicles, and stocks under the names of Wang Moushan and Meng Mou have been seized.
Depositor Chen Mozhi and others had previously reported the incident to the Shangqiu Supervision Branch of the China Banking and Insurance Regulatory Commission.
On October 10, the Shangqiu Banking and Insurance Regulatory Bureau responded in writing, stating that based on the current investigation, it is temporarily unable to determine that PSBC has violated regulations in the implementation of deposit business systems.
So, do the depositors, as victims, still have hope of retrieving their funds?
A review of China Judgments Online reveals that cases of bank employees embezzling depositors' funds by taking advantage of their positions are not uncommon.
The Intermediate People's Court of Tai'an City noted in a criminal judgment that Qin Lan, a former employee of the Tai'an Branch of PSBC, during her tenure from 2012 to 2017, lied to customers seeking wealth management and savings services that depositing funds into VIP accounts would yield high interest returns to gain their trust. She then forged wealth management product agreements, used PSBC POS machines to transfer funds, and fabricated the purchase of PSBC wealth management products for the victims while concealing the actual去向 of the funds. She used the defrauded customer funds to repay previously absorbed principal, pay high interest, purchase personal real estate and vehicles, and cover daily expenses, illegally raising funds from 39 individuals including Han Yong, Yang Zhongjun, and Liu Na, with an outstanding amount of over 25.8 million yuan to date.
Regarding whether the Tai'an Branch of PSBC was at fault for the victims' property losses and should bear compensation liability, the court held that during Qin Lan's tenure as a wealth management manager and customer manager at the Tai'an Branch, she introduced wealth management products to the appellees, guided them to complete wealth management signing procedures at the bank's counter, issued wealth management agreements in the bank's name, and used the branch's POS machines or premises to collect the appellees' wealth management funds. The Tai'an Branch had flaws in personnel supervision, leading the appellees to trust the security of its wealth management services, and this flaw was causally linked to the loss of the appellees' wealth management funds. Furthermore, the branch's internal controls failed to detect Qin Lan's embezzlement and misappropriation of customer funds by controlling others' accounts, violating the Banking Supervision Law, and thus should bear fault compensation liability for the appellees' property losses.
Ultimately, the court ruled that the Tai'an Branch of PSBC should bear 70% of the compensation liability for the property losses of the affected depositors.
Notably, the Shangqiu Banking and Insurance Regulatory Bureau's conclusion that it cannot temporarily confirm regulatory violations in PSBC's deposit business systems stands in stark contrast to the aforementioned judicial precedent.
On the morning of December 29, Fu Jian, the attorney representing Chen Mozhi and other depositors and director of Henan Zejin Law Firm, stated that while the case has not yet entered the court trial phase, the depositors have initiated civil litigation proceedings. Earlier, when he and the victims attempted to file the case with the local court, they were told to wait until the conclusion of the police criminal investigation.
Now, with the police dismissing the case, Fu Jian said he is negotiating with the victims to file the case through civil litigation as soon as possible.
Regarding the reasons for the delayed filing, the spokesperson of the People's Court of Liangyuan District, Shangqiu City has not yet responded.
