Boss of Chinese state-owned conglomerate faces prosecution in anti-corruption crackdown
BEIJING – The former boss of one of China’s biggest state-owned conglomerates has become the latest senior figure snared in a wide-ranging anti-corruption crackdown.
Chinese flag | source: Wikipedia.com
The ruling Communist Party’s discipline agency announced Friday that Song Lin, former chairman of China Resources (Holdings) Ltd., was expelled from the party and turned over to prosecutors. It said he was accused of embezzlement, adultery and taking bribes.
Song was fired last year in the midst of an anti-corruption investigation that has snared a former member of the ruling party’s inner circle, Zhou Yongkang, and executives at oil and other state-owned companies.
China Resources has 450,000 employees and operates companies in industries that include beer brewing, electric power, finance and real estate.
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