Ex-Minsheng Bank president Dong Wenbiao denies facing corruption probe

Dong Wenbiao, former president of China’s Minsheng Bank, has denied rumours that he is under investigation by graft busters.

Last week the bank was caught up in a corruption scandal when Mao Xiaofeng, Dong’s successor as president, was taken away by anti-corruption investigators.

Mao, who was reported by mainland media to have resigned for “personal reasons”, was detained last weekend.

This led to speculation by overseas Chinese media – citing an anonymous source within the central anti-graft agency – that Dong was also under investigation and was facing travel restrictions to prevent him leaving the country.

However, Dong denied these rumours at last night’s opening ceremony of the Hana Bank (China), a subsidiary of the South Korean-based bank.

He told several mainland media at the event in Beijing, including the 21st Century Business Herald and China Business News, that he would be continuing to take an active part in future business events involving his company.