Former Bank of Beijing Chairman Probed for Alleged Corruption

What’s new: Yan Bingzhu, former chairman of Bank of Beijing Co. Ltd. (601169.SH), has been placed under investigation for corruption, an official report revealed Friday, the news coming after the veteran executive has not been heard from for more than six months.

Anti-graft officials investigated Yan’s case last year for “serious violations of (Communist Party) discipline and law,” said Chen Jian, head of Beijing’s discipline inspection commission, the capital’s top graft buster, according to a report published on the city government’s website on Friday.