Yantai Bank Chairman's Case Now a Criminal Matter

(Beijing) – The chairman of Yantai Bank has been turned over to local police for criminal investigation, part of a wider graft inquiry in the coastal city in the eastern province of Shandong.

Zhuang Yonghui, 56, was taken into custody earlier by the Communist Party's anti-graft watchdog, the Central Commission for Discipline Inspection. His case is being handled by the local procuratorate, police bureau and banking regulator. The case will be given to judicial authorities soon, sources close to the situation said.