According to multiple China media reports, the lawsuit hearing from Ms. Duan, a depositor, against the Guangxi Banking and Insurance Regulatory Bureau officially started on June 30.

Ms. Duan has lost substantial money in a multi-million yuan deposit scam. 

In 2019, many bank clients deposited large sums of money in the bank where they were promised high interest from Liang Jianhong, an employee of the Nanning Branch of the Industrial and Commercial Bank of China. 

Later the depositors learned that their original deposit certificates, which officially recognize their ownership of bank deposits, were fabricated and could not be used to retrieve the money. It turned out to be a scam set up by Liang Jianhong.

According to the China Securities Journal, Liang Jianhong had the idea of forging large certificates of deposit to steal bank clients’ deposits back in 2018.

In November 2021, the Nanning Intermediate People’s Court found Liang Jianhong guilty of the crime, and he was sentenced to life in prison for theft, fraud, and forgery of financial documents. Other offenders in the case were sentenced to fixed-term prison ranging from seven to 15 years. They were ordered to compensate for the financial losses to the victims.

It is reported that over 250 million yuan (over 37 million dollars) was lost from 28 victims in the Liang Jianhongs’ deposit scam. About 120 million yuan (18 million dollars) still have not been retrieved in the case.

The court did not deliver its verdict on the compensation responsibility of Liang Jianhong’s employer, Industrial and Commercial Bank of China. It said that was not within the scope of the trial of the case.

The court’s decision has raised public concern about the bank’s responsibility in the case.

In March 2022, the bank officially announced that the court’s decision about Liang Jianhong’s behavior was a personal crime and not a job-related crime.

According to Ms. Duan’s lawyer, the depositor requested the local Banking and Insurance Regulatory Bureau in November 2021 to disclose specific information about the “missing” bank deposits. But the bureau did not give the proper response.

M.s Duan requested the bureau confirm the bank’s involvement and responsibility in the scam. She decided to file a lawsuit against the bureau for its responsibility after she did not get a proper response.  

Ms. Duan’s lawyer said that the bank has always claimed that this matter has nothing to do with the bank and it’s only the personal behavior of its employee. He said his client’s goal is to get the victim’s money back. If unsuccessful this time, they will collect evidence and appeal again. 

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