Ex-CDB exec indicted for multiple offenses

Photo taken on May 12, 2013, shows the tower of China Development Bank in Shanghai. (PHOTO/IC)

BEIJING – He Xingxiang, former vice-president of China Development Bank, was arrested on suspicion of accepting bribes and issuing financial bills in violation of regulations, the Supreme People's Procuratorate said in a statement on Sunday.

He was also accused of granting loans illegally and concealing overseas bank deposits, according to the statement.

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The case was transferred to prosecutors after an investigation by the National Supervisory Commission, the SPP said.