Mar 31, 2010 07:00 PM

Former High-Level Banking Official Stands Trial

By intern reporter Xiong Ying

[Click for Chinese Version]

(Caixin Online) The trial of a former banking regulator and vice governor of a major policy bank began March 30. Following a two-year investigation, Wang Yi stood before a Beijing court, accused of taking bribes amounting to 11.9 million yuan.

According to prosecutors, Li Tao, a Hong Kong businessman gave Wang 5.38 million yuan in exchange for Wang's help in obtaining bank loans for Li's highway construction project. Li has been arrested.

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