Former bank chief of Inner Mongolia on trial for embezzling 600m yuan
Beginning in 1999, Yang Chenglin took bribes, bought flats on the mainland and in the US and took pricey overseas trips
A former bank chief in Inner Mongolia has been accused of obtaining more than 600 million yuan through embezzlement and accepting bribes, mainland media have reported.
Yang Chenglin, former chair of the Bank of Inner Mongolia Autonomous Region, stood trial in the Intermediate People’s Court in Baotou on Monday with his son Yang Hai and mistress Zhang Ting, Xinhua reported.
Prosecutors said Yang began to seek bribes in 1999, while chairing the Hohhot Commercial Bank, which later became the Bank of Inner Mongolia Autonomous Region in 2003.
He allegedly used the bribes to buy apartments in Beijing and Inner Mongolia for Zhang and real estate in the United States for his son.
He also allegedly used public funds to take business trips overseas and purchase expensive gifts such as ivory ornaments, according to the court.
The bribes taken directly by Yang or through his son and mistress are alleged to total 307 million yuan. He is also accused of embezzling nearly 300 million yuan.