A former chairman of state-owned banking giant Everbright has been formally taken into custody following his arrest as he is weighed down by suspicions of corruption and briberyits authorities announced today China.
Following the completion of an anti-corruption commission investigation, the findings of which were forwarded to the prosecutor's office, the latter said in a statement that it had ordered the arrest of Tang Shuangning, the group's former board chairman, “in recent days.”
Mr. Tang, 69, was expelled from the Chinese Communist Party earlier this month for serious violations as a campaign against corruption in the financial sector appears to be gathering pace, according to international agencies and the Athens News Agency.
The former Everbright chairman had served as vice chairman of China's banking regulator before taking the position at the group in 2007. He stepped down in 2017.
Source: News Beast
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