Former China Life Insurance chief expelled from Communist Party over bribery and abuse of power

Former China Life Insurance chief expelled from Communist Party over bribery and abuse of power

Former China Life Insurance chief expelled from Communist Party over bribery and abuse of power


BEIJING, Dec 27 — The former ​president of China ‌Life Insurance, Yang Chao, was expelled ‍from the Communist Party after ‌an investigation by China’s anti-graft watchdog found he ‍had committed violations including accepting bribes, the agency said in a statement on Friday.

Yang, who was also the Communist Party chief at ‍the state-owned ‍insurance company, accepted kickbacks for helping people ​in recruitment and promotion and allowed his family members to abuse his power ‌and influence, the Central Commission for Discipline Inspection said.

Yang’s ‍ill-gotten gains have been ‌confiscated ‍and his case was ‍transferred to prosecutors, the ‍CCDI said. — Reuters



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