BEIJING (Reuters) – Li Quan, former chairman of New China Life Insurance, has been indicted on charges of embezzlement and taking bribes, Chinese state media Xinhua reported on Wednesday.
Li allegedly took advantage of his posts to embezzle large sums of public assets and helped others in exchange for money and valuables, Xinhua reported, citing prosecutors.
(Reporting by Beijing Newsroom; Editing by Bernadette Baum)
