Electricity tycoon pleads guilty to bribery

A former tycoon in China's electricity industry, Yun Gongmin, pleaded guilty to charges of accepting 468.66 million yuan ($72.45 million) in bribes while standing trial on Thursday in the Changchun Intermediate People's Court of Northeast China's Jilin province.

Yun, ex-general manager of China Huadian Corporation, one of the country's State-owned power companies, was charged by prosecutors with taking advantage of his positions to seek benefits for others in the selection and appointment of officials, business operations and project contracts between 1992 and 2016, according to a statement from the court.

Between 1992 and 2016, Yun served many positions, including deputy chairman of the government of the Inner Mongolia autonomous region, deputy secretary of the Shanxi Provincial Party Committee and ex-general manager of China Huadian Corporation.

He was found to have acquired money and property worth 468.66 million yuan in return, it said.

The sentence will be handed down later.