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Bribery: Former chairman of China Life Insurance indicted



Mr Wang Bin

BEIJING- Wang Bin, a former party chief and Chairman of China Life Insurance (Group) Company, has been indicted by a Chinese procuratorate for suspected bribe-taking and concealment of overseas savings.

The Supreme People’s Procuratorate (SPP) made the disclosure in a statement on Thursday.

According to the statement, Wang took advantage of his posts at various financial institutions, including those at the Jiangxi Branch of the Agricultural Development Bank of China,  to seek benefits for others.

In return, he accepted an “especially huge amount’’ of money and gifts, SPP said in the statement.

Also, Wang was accused of concealing a large amount of overseas savings and violating relevant rules for a state functionary.

Wang’s case has been filed by the Jinan City procuratorate in Shandong Province at the city’s intermediate court.

The statement said that prosecutors had informed him of his litigation rights and interrogated him. (Xinhua/NAN)

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