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Former city official stands on trial for graft
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FORMER deputy secretary general of the city government Dai Haibo stood on trial today for corruption and misconduct at Shanghai No.1 Intermediate People’s Court.
He has been charged with taking bribes worth nearly 11.5 million yuan (US$1.67 million).
Dai allegedly took bribes of more than 9.9 million yuan between 1998 and 2015 when he served in several roles at separate times — as general manager of state-owned Zhangjiang Group, deputy director of Pudong New Area and director of the Shanghai Economic and Information Commission among others.
He has also been accused of concealing money overseas. Prosecutors said Dai did not report to the government when he opened a personal account in Citibank Hong Kong in April 2001. The account had about HK$380,900 (US$49,064) deposit, and stocks and funds worth about HK$1.58 million in March 2015.
Dai admitted to his guilt and expressed regrets at the trial.
The court has yet to hand down a verdict.
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