Ex-bank ex­ec­u­tive pleads guilty

China Daily (Hong Kong) - - CHINA -

Yao Zhong­min, a for­mer se­nior ex­ec­u­tive of China Devel­op­ment Bank, pleaded guilty to ac­cept­ing bribes worth more than 36 mil­lion yuan ($5.3 mil­lion) dur­ing a hear­ing at Baod­ing In­ter­me­di­ate Peo­ple’s Court on Mon­day. From 2000 to 2013, Yao, deputy head and chief supervisor of the bank, made use of his po­si­tion to of­fer loans and con­tract rights to oth­ers in ex­change for bribes, pros­e­cu­tors said. The court said its judg­ment will be an­nounced at a later date.

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