Former Postal Bank chief tried over US$56m graft
Print Edition
THE former head of one of China’s largest banks and two of his staff went on trial yesterday accused of embezzling 340 million yuan (US$55.6 million), Xinhua news agency reported.
The case against Tao Liming — ex-president of the Postal Savings Bank of China — Li Chuntai and Sun Lina, was heard in a court in Hebi, central China’s Henan Province. The three men are accused of diverting funds to seek “personal profit,” the report said.
Prosecutors also charged Tao with taking 21 million yuan in bribes for granting financing and job promotions, it said.
Tao was arrested on graft charges in December 2012.
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