Mar 31, 2010 07:00 PM
Former High-Level Banking Official Stands Trial
(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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