Caixin
FINANCE

Former Chief of Citic Securities Jailed for Bribery

Cheng Boming. Photo: IC
Cheng Boming. Photo: IC

Cheng Boming, former general manager of CITIC Securities Co., was jailed for 3.5 years for bribery following an investigation that brought down many top managers of the biggest brokerage in China. Two other former executives received suspended sentences.

Sources close to the matter told Caixin that Cheng was sentenced in a court ruling in December 2016 for accepting “hundreds of thousands of yuan in bribes” in exchange of business favors.

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