Home > News > Top News

Ex-securities official indicted; 2 others also charged

(China Daily) Updated : 2018-07-06

In separate cases, Chinese prosecutors have filed indictments against Yao Gang, former vice-chairman of the China Securities Regulatory Commission, and two other former officials. A fourth former official pleaded guilty to graft charges on Thursday.

Yao was accused of insider trading and taking bribes, the Supreme People's Procuratorate said on Thursday.

The indictment said he had taken advantage of his posts at the commission to seek benefits for others and that he had accepted large amounts of money and gifts in return.

In addition, he used the inside information he acquired during his work to carry out insider trading and make illegal profits, prosecutors said.

Yao's case was filed by the Handan city procuratorate in Hebei province.

In a separate action, prosecutors in Fujian province and Beijing filed indictments against Chen Shulong, former vice-governor of Anhui province, and Zhang Huawei, a former vice-ministerial level discipline inspector, the SPP said.

Elsewhere, Chen Xu, former procurator general of the Shanghai Municipal People's Procuratorate, pleaded guilty on corruption charges in Nanning Intermediate People's Court, Guangxi Zhuang autonomous region, on Thursday. No verdict was given.

Chen, 65, was accused of taking bribes of more than 74.2 million yuan ($11.2 million) when he served as deputy secretary of the Shanghai Municipal Committee of the Communist Party of China, deputy secretary of the politics and law committee of the committee and secretary of the Party Committee and procurator general of the Shanghai People's Procuratorate from 2000 to 2015.

Prosecutors in Nanning said Chen, along with his relatives, took advantage of his position and accepted bribes to illegally help others, such as in case handling and construction engineering.