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BEIJING, October 27 (TMTPOST) —Tian Huiyu, former President of China Merchants Bank Co., Ltd., was under arrest, according to the Supreme People"s Procuratorate (SPP) on Wednesday.
Tian was suspected of taking bribes, abusing power as state-owned company personnel, and trading with insider information. The case was concluded by the National Supervisory Commission (NSC) of the Communist Party of China (CPC) and transferred to the procuratorial authorities for examination and prosecution.
Recently, the SPP decided to arrest Tian in accordance with the law. The case is being further processed.
On April 18, after the thirty-eighth meeting of the eleventh session of the Board of Directors, China Merchants Bank decided to remove Tian from his position as president and director of China Merchants Bank.
On April 22, the CPC Central Commission for Discipline Inspection (CCDI) and the NSC disclosed that Tian, former secretary of the CPC committee and President of China Merchants Bank, was suspected of serious disciplinary violations and should accept disciplinary examination by the CCDI.
On October 8, the CCDI and the NSC announced that Tian, a leading CPC member working in the financial sector for a long time, lost his ideals and beliefs and deviated from his original aspiration.
Tian seriously violated the party"s political, organizational, and integrity discipline, constituting serious job violations and in suspicion of the crime, and did not stop after the 18th CPC National Congress, therefore should be dealt with seriously considering the negative impact.
According to the relevant provisions, the CCDI decided to give Tian expulsion from the CPC. The NSC decided to give his dismissal from public office, seize his income gained from disciplinary violations and illegal actions, and transfer his suspected criminal issues and related property to the procuratorial organs for examination and prosecution according to law.
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