Top CPC discipline authority announces three cases involving senior financial Party officials
Published: Jun 24, 2022 06:59 PM
Law Photo:VCG

Law Photo:VCG

The Central Commission for Discipline Inspection (CCDI),  the top discipline organ of the Communist Party of China (CPC) announced on Friday three cases involving senior financial Party officials. 

Wang Yonghong, a former director from the technology department at the People's Bank of China was dismissed from public office and expelled from the CPC for seriously violating regulations linked to accepting bribes. 

According to the CCDI, Wang had transferred and concealed properties that were illegally obtained, while rejecting to cooperate with the investigation. Wang took advantage of his position to provide assistance and benefits to others in order to solicit significant personal financial gains. 

In addition to being dismissed from public office and expelled from the CPC, Wang seriously violated laws and is suspected for bribery. All illegal proceeds have been confiscated and the case has been transferred to procuratorial authorities for examination and prosecution according to law.

He Lin, former deputy Party secretary and general manager of the China Banknote Printing and Minting Corporation, one of the world's largest money printers, was expelled from the CPC for severe disciplinary and law violations, under the suspicion of accepting bribes and forging identity documents.

For instance, He was accused for arranging staff members to drive his private vehicles for him after the reform of relevant regulations, while using his positions to gain benefits for others in order to receive money. He also faked a name and forged a false identity for his spouse. 

He's illegal proceeds have been traced back and confiscated by responsible authorities pursuant to relevant regulations, and the case has been transferred to relevant authorities.  

Lin Yongfeng, a former monitoring director of the Shanghai Stock Exchange, was dismissed from his position and expelled from the CPC for repeatedly accepting banquets from regulatory targets, seeking improper benefits for others, and receiving properties during the process for issuance and listing review of enterprises.

Given that Lin took the initiative to surrender the properties and voluntarily reported himself to relevant authorities, his final punishment may be mitigated, while his illegal gains have also been seized by relevant authorities.

Global Times