Former ICBC head indicted on bribery charges

The former head of Industrial and Commercial Bank’s Shanghai office has been indicted on charges of taking bribes of 136 million yuan (US$19.4 million), said the city’s procuratorate during a hearing on Tuesday.

Gu Guoming, 53, was accused of taking advantage of his position to help relevant companies and individuals with financing, lending and project contracting and receiving money from those people between 2005 and 2018, according to the No.1 Branch of the Shanghai People’s Procuratorate.

Prosecutors presented evidence that Gu had taken 5.86 million yuan in bribes. He confessed to receiving the rest of the money from others, authorities said.

Gu pleaded guilty and expressed remorse in court.

In December, the Supreme People’s Procuratorate announced that Gu was arrested and facing charges.