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        CBRC to wipe out bribery

        By Zhang Lu (China Daily)
        Updated: 2007-01-31 09:40

        China Everbright Bank: The former vice-president of the bank's Heilongjiang branch Chen Hongbo, took 1.8 million yuan ($230,700) in bribes from 1999 to 2003. He was sentenced to 10 years in prison in February 2006.

        Bank of Tokyo-Mitsubishi UFJ: Former general manager of the Shanghai branch of the bank's computer department Cao Yunkan accepted 59,000 yuan ($7,500) from the company building its IT network project in 2005. Cao was sentenced to one year, with a one-year suspension.

        Cao's case was the only one involving overseas invested banks last year.


                                                                                 (China Daily 01/31/2007 page3)


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        (For more biz stories, please visit Industry Updates)



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