Fallen Everbright Group Chairman Charged With Bribery, Embezzlement

Tang Shuangning, a former China Everbright Group Ltd. chairman and calligraphy aficionado who fell under a corruption probe last year, has been charged with taking bribes and embezzling public assets, the country’s top prosecutor announced in a statement Friday.

Over much of his career, including stints at the People’s Bank of China (PBOC) and a now-defunct top banking regulator, Tang abused his power to help people in matters such as getting loans and changing jobs in exchange for “especially large” bribes, the statement said, citing prosecutors in Tangshan, Hebei province.