A series of high-profile charges against former executives in China's financial and energy sectors have been reported. The former head of ICBC's asset management department has been charged with embezzlement and taking bribes, according to Caixin. He led the bank's asset management department since 2016 and chaired its wealth management subsidiary for approximately one and a half years. Additionally, a former China National Petroleum Corp executive faces charges of taking bribes. Bai Tinghui, the former head of Shanghai's municipal state-owned asset watchdog, has been charged with "taking huge amounts" in bribes nearly seven months after being placed under investigation for corruption. In the banking sector, CICC's Wu Bo resigned as president and CFO five months after assuming the role. Furthermore, the former chairman of China Everbright Group has also been charged with taking bribes, as reported by state media.
Former China Everbright Group chairman charged with taking bribes, state media reports https://t.co/ChPM9dY5gE https://t.co/TKYgDNL7FT
⚠️ FORMER CHINA EVERBRIGHT GROUP CHAIRMAN CHARGED WITH TAKING BRIBES, STATE MEDIA REPORTS Full Story → https://t.co/xBtvLYk5GI https://t.co/B3mdZ4pvO7
CICC’s Wu Bo has stepped down as president of the investment bank five months after he took up the position. He has also resigned from his role as CFO. https://t.co/8X2zHa4bDz
Bai Tinghui, former head of Shanghai’s municipal state-owned asset watchdog, has been charged with “taking huge amounts” in bribes, nearly seven months after he was placed under investigation for corruption https://t.co/saSvp1dVVh
Former China National Petroleum Corp executive charged with taking bribes https://t.co/VN09Aa0DZb https://t.co/1jyf8UDVOi
"Former head of ICBC’s asset management department charged with embezzlement and taking bribes" (Caixin) "He became general manager of the bank’s asset management department in or around 2016, and chaired its wealth management subsidiary for about one and a half years… https://t.co/Kr5Pt3qbL8