Guangdong Bank Director Convicted of Bribery
Dong Huchen, director of the Guangdong Branch of the China Construction Bank (CCB), was recently convicted of bribery and sentenced to 13 years' imprisonment by the Intermediate People's Court of Guangzhou, capital of south China's Guangdong Province.
Dong established a banking and accountancy company in Hong Kong in 1993 without the approval of the central bank and CCB headquarters. The company later lost HK$106 million in an investment project.
Dong was relieved of his post in 1995. The provincial procuratorate arrested him in 1996 for dereliction of duty and an ensuing investigation determined he had accepted bribes of over HK$300,000.
Economicnews 1999-01-07 Page2
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