Ex-Chinese Bank President Under Investigation for Legal Breaches

Ouyang Weimin, the former president of the China Development Bank, is under investigation for alleged serious disciplinary and legal violations. This announcement was made by China's Central Commission for Discipline Inspection. Previously, the bank's former vice president was sentenced to twelve years in prison for accepting bribes.

The former president of the China Development Bank, Ouyang Weimin, is facing an investigation for suspected serious disciplinary and legal violations. This revelation was brought to light by China's anti-graft watchdog, the Central Commission for Discipline Inspection, on Sunday.

Ouyang's investigation underscores the ongoing crackdown on corruption within senior financial institution ranks in China. This move follows a similar high-profile case last year involving a former vice president of the same bank.

In 2024, this former vice president was sentenced to 12 years in prison and fined for accepting bribes, highlighting the Chinese authorities' firm stance against corruption.