The former chairperson of Chinese state-owned financial institution China Everbright Group has been arrested on suspicion of embezzlement and bribery, state media reported Monday, citing prosecutors’ statements, in a improvement that comes amid an intensified marketing campaign towards corruption.
The investigation into Tang Shuangning, the previous get together secretary and chairperson of China Everbright Group, has ended. The case could be “transferred to the procuratorate for review and prosecution,” China’s Supreme People’s Procuratorate stated in a press release.
Tang, 69, was expelled from the Chinese Communist Party earlier this month over violations of disciplines and legal guidelines amid a crackdown on corruption in China’s monetary sector. He retired in 2017.
Other allegations towards him embrace weakening the get together’s management over the financial institution, failing to forestall and defuse monetary dangers, “privately reading publications with serious political problems and resisting organizational scrutiny,” the party-run newspaper Global Times cited the Central Commission for Discipline Inspection (CCDI) and the National Supervisory Commission as saying.
Earlier this month, Chinese President Xi Jinping pledged to accentuate a crackdown on graft within the finance, power and infrastructure sectors, a part of a longstanding marketing campaign towards corruption since he got here to energy in 2012.
As of April 2022, 4.7 million folks had been punished for corruption, based on state-owned media studies.
Tang served as vice chairman of the China Banking Regulatory Commission from 2003 to 2007 earlier than he was appointed chairperson of China Everbright Group. He was first investigated in July.
His successor, Li Xiaopeng, was additionally suspected of graft, expelled from the get together, and faraway from public workplace.
Others who’ve been punished for graft embrace Sun Guofeng, a former Chinese central financial institution senior official, who was sentenced to over 16 years in jail for accepting bribes.
Sun Deshun, former president of state-owned China CITIC Bank, was sentenced to life imprisonment for accepting over $130 million in bribes throughout his profession.
Another finance govt, Zhang Hongli, who was a former senior govt of the Industrial and Commercial Bank of China, China’s largest financial institution, has additionally been investigated for graft.
Source: www.dailysabah.com