Former Everbright Bank Branch Chief Under Graft Probe

A former China Everbright Bank Co. Ltd. branch chief was placed under graft investigation, extending a list of senior officials brought down by scandals rattling the state-owned financial conglomerate China Everbright Group Ltd.

Su Shude, a former president and Communist Party chief of Everbright Bank’s Nanning branch in southern China’s Guangxi province, has been placed under investigation on suspicion of “serious violations of party discipline and law,” China’s top corruption watchdog said Tuesday. The allegation is a common euphemism for graft.