Former chairman of state-owned bank China Everbright Group jailed for 12 years for corruption
4 weeks, 2 days ago

Former chairman of state-owned bank China Everbright Group jailed for 12 years for corruption

Associated Press  

BEIJING — A former chairman of the state-owned bank China Everbright Group was jailed 12 years for embezzlement and bribery, official broadcaster CCTV said Tuesday. Tang Shuangning, who had also held senior posts at the People’s Bank of China and the China Banking Regulatory Commission, was arrested in January, part of a wider wave of prosecutions of senior officials accused of financial crimes. A court in the city of Tangshan, about 100 miles east of Beijing, found him guilty of taking advantage of his position at the state-owned bank in “seeking convenience for others” in jobs and loans, in exchange for illegal payments. Other former officials caught up in the crackdown include Liu Liange, a former chairman of the Bank of China; former Chinese central bank senior official Sun Guofeng; former president of state-owned China CITIC Bank Sun Deshun; and Zhang Hongli, a former senior executive of the state-owned Industrial and Commercial Bank of China.

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