Former Everbright official under corruption investigation

Zhang Huayu, former deputy head of China Everbright Bank, is under investigation for serious violation of Communist Party of China discipline and the national law, according to the country's top anti-graft bodies.

The CPC Central Commission for Discipline Inspection and the National Supervisory Commission issued a statement on Monday saying Zhang had been expelled from the Party and removed from his public post, and his case and illegal gains had been transferred to the procuratorial organ for prosecution.

The working team of the Central Commission for Discipline Inspection and the National Supervisory Commission stationed in China Everbright Group and the Heze Supervisory Commission of Shandong Province recently filed a case against Zhang.

The investigation showed Zhang colluded with others to form an offensive and defensive alliance against the investigation and review.

He accepted gifts, cash, luxurious travel and high-end entertainment that affected the impartial performance of his official duties and made use of his power to arrange for dozens of people including his son, son-in-law, younger brother and other relatives to work in China Everbright Group and help others in promotion and changing their positions, the statement said.

Zhang also capitalized on his position to seek benefits for certain people and engage in profit-making activities, hold shares of unlisted companies and participate in private lending, per the statement.

The statement continued, saying the 64-year-old had a corrupt and immoral life. He sought profits for certain companies when he was in office and received a high salary in an enterprise related to his former position after resignation, which is a typical case of power and capital interlinked for pursuing profit.

He is suspected of taking bribes and using his influence to accept bribes, an offense serious in nature and carrying negative social impact, it said.

Zhang, a native of Henan province, started to work in 1976 and joined the Party in 1985. He was transferred to China Everbright Bank in February 2001. He was promoted to deputy head of the bank in 2007 and resigned in 2018.