BEIJING, Dec 26 (Reuters) – The former president of China Life Insurance, Yang Chao, was expelled from the Communist Party after an investigation by China’s anti-graft watchdog found he had committed violations including accepting bribes, the agency said in a statement on Friday. Yang, who was also the Communist Party chief at the state-owned insurance […]
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Former China Life president expelled from Communist Party after corruption probe
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BEIJING, Dec 26 (Reuters) – The former president of China Life Insurance, Yang Chao, was expelled from the Communist Party after an investigation by China’s anti-graft watchdog found he had committed violations including accepting bribes, the agency said in a statement on Friday.
Yang, who was also the Communist Party chief at the state-owned insurance company, accepted kickbacks for helping people in recruitment and promotion and allowed his family members to abuse his power and influence, the Central Commission for Discipline Inspection said.
Yang’s ill-gotten gains have been confiscated and his case was transferred to prosecutors, the CCDI said.
(Reporting by Beijing Newsroom; Editing by Joe Bavier)