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China Life Insurance Ex Chairman Wang Bin Indicted for Bribery

Wang Bin

A Chinese procuratorate has filed an indictment against Wang Bin, a former party leader and the head of China Life Insurance (Group) Company, for alleged bribery and hiding foreign savings.

This was revealed in a statement released by the Supreme People’s Procuratorate (SPP) on Thursday.

The declaration claims that Mr. Wang used his positions in several financial organizations, including the Jiangxi Branch of the Agricultural Development Bank of China, to seek advantages for others.

SPP acknowledged accepting “an extremely big sum” of cash and gifts in the statement.

Mr. Wang Bin was also charged with breaking applicable laws governing state functionaries and hiding a sizeable quantity of foreign money.

The Jinan City procuratorate in Shandong Province has brought Mr. Wang Bin‘s case before the city’s intermediate court.

According to the statement, prosecutors questioned him and told him of his legal rights.

Amidst bribery probe information gathered it was reported that the China Life Insurance ex chairman has resign

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