BEIJING, June 17 -- Long Zenglai, board chairman and Communist Party of China (CPC) chief of state-owned China Investment Securities, has been removed from office following a graft investigation, the CPC discipline authority announced Wednesday.
The decision was jointly made by the CPC Commission for Discipline Inspection, and China Investment Corp., the parent company of China Investment Securities.
Long is alleged to have organized banquets at luxury restaurants from January 2013 to May 2015. He filed expenses invoices totaling 400,605 yuan (64,497 U.S.dollars) for these banquets, inflating the bills by 159,100 yuan.
He is also accused of spending 34,389 yuan of public money since 2013 on rounds of golf, and using 17,921 yuan from the company account to finance the publication of his poetry.
Chinese students learn Duanwu customs in Hefei, Anhui
Abandoned village swallowed by nature
Graduation: the time to show beauty in strength
School life of students in a military college
Top 16 Chinese cities with the best air quality in 2014
Mysterious “sky road” in Mount Dawagengzha
Students with Weifang Medical University take graduation photos
PLA soldiers conduct 10-kilometer long range raid
Stars who aced national exams
New PLA campaign targets new recruits
Island construction can benefit wider region
Market studies
Zen harvest for Shaolin monksDay|Week
