China prosecutes former banking regulatory official
Cai Esheng, a former vice chairman of China's top banking regulatory body, is being prosecuted over suspected bribe-taking and abuse of power, an official statement said Monday.
The Zhenjiang Municipal People's Procuratorate in east China's Jiangsu Province recently filed a lawsuit at the Intermediate People's Court of Zhenjiang.
The lawsuit follows the conclusion of an investigation by the National Supervisory Commission into the case involving Cai, who was vice chairman of the former China Banking Regulatory Commission.
The procuratorate has charged Cai with various crimes: taking advantage of the power of his office or position to seek gains for others and accepting an especially large amount of bribes in money and valuables in return; seeking illegitimate gains for others through a state functionaries' performance of duties and accepting an especially large amount of bribes in money and valuables in return; practicing favoritism, engaging in falsification, and abuse power in the performance of his duties, which has caused heavy losses to public property, and the interests of the State and the people.