Former head of largest State-owned agricultural enterprise in Hainan charged with bribery

Yang Sitao, former chairman of the largest State-owned agricultural enterprise in Hainan province, was officially charged on Monday for accepting bribes of over 338 million yuan ($48 million). 

The prosecutors said Yang, former Party secretary and chairman of Hainan State Farms Investment Holding Group Co Ltd, also known as Haiken Group, had illegally accepted bribes of over 338 million yuan.

They said Yang, as a staff member of a state organ, had used his positions to seek benefits for others and the amount of bribery was particularly large. His abuse of power has caused an economic loss of about 12 million yuan for the state.

Yang was thus charged with the crimes of bribery and abusing power. The case was filed to the First Intermediate People's Court of Hainan province.

Yang, 55 years old and born in Guangdong province, was appointed the Group's Party secretary and chairman in 2017.

He was placed under investigation this April for alleged violations of law and Party discipline by the Hainan provincial discipline watchdog.