Former Sinopec executive pleads guilty to corruption, bribe-taking
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Wang Tianpu, vice chairman and president of China's Petroleum & Chemical Corp (Sinopec), speaks during a news conference announcing the company's interim results in Hong Kong August 29, 2011. REUTERS/Bobby Yip
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
BEIJING (Reuters) - A former general manager of Chinese energy giant Sinopec Group admitted to accepting 33 million yuan ($4.87 million) in bribes, China's anti-corruption watchdog said.
President Xi Jinping launched a sweeping crackdown on deep-rooted corruption after assuming power four years ago, ensnaring top politicians, leaders of state enterprises and senior bankers.
Wang Tianpu, an oil industry veteran, appeared in court on Tuesday pleading guilty to charges of corruption and accepting bribes, the Central Commission for Discipline Inspection (CCDI) said in a short statement on its website late on Tuesday.
The statement said the court is yet to hand down a verdict.
Sinopec Group is the parent of Sinopec Corp, Asia's largest oil refiner.
Wang has already been investigated by the party's internal anti-corruption watchdog and will almost certainly be found guilty, as Chinese courts are controlled by the part and do not challenges its accusations.
(Reporting by Sue-Lin Wong; Editing by Michael Perry)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Trump says call with Israel's Netanyahu was 'very nice'
- Brazilian authorities build temporary wall to quell deadly prison clashes
- U.S. Senators McCain, Graham to support Tillerson nomination
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!