China: Former head of China CITIC Bank indicted for bribery

Sun Deshun, former president of China CITIC Bank Corporation Limited, has been indicted on a charge of taking bribes, the Supreme People’s Procuratorate (SPP) said Wednesday.

Sun was accused of taking advantage of his various former positions to seek profits for others and accepting vast sums of money and gifts in return, the SPP said in a statement.

Sun’s case was handed over to the People’s Procuratorate of Jinan in east China’s Shandong Province for review and prosecution upon the designation of the SPP after the National Supervisory Commission concluded the investigation, it said.

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