Tan Ruisong, former board chairman of the Aviation Industry Corporation of China

A public prosecution has been initiated against Tan Ruisong, former board chairman of the Aviation Industry Corporation of China (AVIC), a state-owned aerospace and defense conglomerate, on suspicion of embezzlement, bribery, insider trading, and insider information leaks, CCTV News reported on Tuesday.

The public prosecution was filed by the Dalian Municipal People's Procuratorate in Northeast China’s Liaoning Province after being designated by the Supreme People's Procuratorate to review and prosecute the case, according to the report. 

Tan, who also formerly served as secretary of the corporation's leading Party members group, has been charged by the procuratorate with illegal embezzlement of an extremely huge amount of public property, illegally accepting bribery from others in extremely large amounts, illegally engaging in securities transactions related to insider information multiple times, and other offenses, per the CCTV News report. 
Given the particularly serious circumstances, Tan should be held criminally liable for the crimes of embezzlement, bribery, insider trading and disclosure of insider information, prosecutors said. 
Tan was put under investigation for suspected severe violations of Party discipline and the law in August 2024. He was being investigated by the Communist Party of China Central Commission for Discipline Inspection and the National Commission of Supervision. In February, Tan was expelled from the CPC over serious violations of Party discipline and laws, according to the Xinhua News Agency. 

Global Times