Caixin
Sep 28, 2018 09:09 PM
FINANCE

Quick Take: Veteran Financial Regulator Sentenced to 18 Years for Bribery

Photo: Handan Intermediate People's Court
Photo: Handan Intermediate People's Court

A veteran securities regulator was sentenced Friday to 18 years in prison for corruption and insider trading, a city court ruled.

Yao Gang, former vice chairman of the China Securities Regulatory Commission, stood accused of using his high-level government positions to seek benefits for companies in talks for mergers or share transfers, as well as to help companies avoid regulatory penalties, according to the Intermediate People’s Court of Handan city in North China’s Hebei Province.

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