Former ICBC Banker Pleads Guilty to Taking $15 Million of Bribes

What’s new: Lu Jinwen, a former vice president of the Guangdong branch of Industrial and Commercial Bank of China Ltd. (ICBC) (601398.SH), pleaded guilty to taking 100 million yuan ($14.9 million) of bribes.

A court in Shandong province heard Lu’s case Thursday. Lu, 60, was charged with bribery and illegal loan issuance. The court said sentencing would take place on a later date.