A Chinese prosecutor’s office has charged Wang Bin, a former party leader and Chairman of China Life Insurance (Group) Company, for alleged bribery and hiding overseas funds.
This announcement was made in a declaration released by the Supreme People’s Procuratorate (SPP) on Thursday.
According to the statement, Wang exploited his roles at various financial enterprises, including the Jiangxi Branch of the Agricultural Development Bank of China, to obtain advantages for others.
In exchange, he received an “exceptionally large sum” of cash and presents, stated the SPP in the announcement.
Additionally, Wang faced accusations of hiding a significant amount of funds abroad and breaching pertinent regulations for a state official.
Wang’s case has been registered by the Jinan City prosecutor’s office in Shandong Province at the city’s intermediate court.
The statement indicated that prosecutors had briefed him on his legal rights and questioned him. (Xinhua/NAN)
