Xiang Jun, former Chairman of the insurance regulatory Commission in China (CIRC), pleaded guilty to receiving a $ 3 million bribe.
During the trial in the Changzhou people’s court of Jiangsu province, Xiang Junbo pleaded guilty to corruption, the Diplomat reports .
Junbo has worked in The national control Directorate of China, People’s Bank of China (PBC), Agricultural Bank of China (ABC) for his work. Under his leadership, ABC entered the Shanghai and Hong Kong stock exchange trading. In October 2011, Jiangsu Xiang Junbo was appointed Chairman of the China insurance regulatory Commission (CIRC).
According to media reports, between 2005 and 2017, Xiang helped various organizations and individuals “to conclude contracts for various projects, loans, qualification reviews” In addition, he received more than $ 3.3 million directly or through his assistant Yang Guan. Xiang pleaded guilty and expressed remorse in his last statement.
It is particularly worth mentioning that in September 2017, the Central Commission for discipline verification (CCDI), the Supreme Institute of internal control of the Communist party of China (CPC), issued a statement detailing Xiang’s misdeeds. According to the CCDI, Xiang’s most grievous misconduct, among many others, was that he “seriously violated political discipline and rules.”
Earlier, the Central coordination group of China for the fight against corruption released information about 50 persons who had fled from the justice of China. They are suspected of official or economic crimes.