Fri, 01 Dec 2023

Beijing [China], September 28 (ANI): The Chinese authorities framed bribery charges against former Deputy Governor of Central Bank, Fan Yifei, Anadolu News Agency reported on Wednesday.

The case was filed against Yifei (59) who served as the vice governor of the People's Bank of China until 2022,8203;8203; and was arrested in June.

"A public prosecution has been initiated against Fan Yifei ... on suspicion of bribery in accordance with the law," Beijing-based daily Global Times reported.

Fan abused his positions at China Construction Bank, China Investment Corp. and People's Bank of China to benefit others in exchange for a "particularly large amount" of bribes, Beijing-based Xinhua reported.

Fan was expelled from the Communist Party of China over"power-for-money deals" in June.

His expulsion and subsequent arrest came after the Central Commission for Discipline Inspection, China's top anti-graft body, claimed that Fan was involved in a series of corrupt activities, utilizing his public office for personal financial gains through unofficial investment schemes, Anadolu News Agency reported.

The assets involved were transferred to the procuratorial authorities for examination and prosecution.

Notably, China's anti-corruption measures in the first quarter of the current year led to 138,000 cases and the punishment of 111,000 individuals, including high-ranking officials, as per Anadolu News Agency. (ANI).

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