CITIC Securities Investment Director Fang Beibei was sentenced to ten and a half years in the first instance.

Fang Beibei, former director of the bond underwriting department of CITIC Construction Investment Bank, was found guilty of bribery by the Longsha District Court of Qiqihar City, Heilongjiang Province in the first instance for receiving kickbacks in the issuance and subsequent "selling off" process of domestic bonds by Road King, with the amount involved exceeding 5.4 million yuan and was sentenced to 10 years and 6 months in prison.