BEIJING (Reuters) – Chairman of a rural commercial bank in China’s Bengbu city, Anhui province, is under investigation for suspected violation of law and discipline, the local anti-graft watchdog said in a statement on Wednesday.
Wu Yonggang, also party secretary of Bengbu Rural Commercial Bank, is the latest of a string of financial officials to be investigated following a rural banking scandal last year.
Deposits worth more than $1.5 billion at a handful of small lenders in Henan and Anhui provinces had been frozen in what authorities said was a complex scam, sparking protests and eroding public confidence in the financial system.
(Reporting by Beijing Newsroom; Editing by Shri Navaratnam)
