Fan Yifei. File Picture. Reuters
Fan Yifei. File Picture. Reuters
China’s top prosecutor announced on Tuesday that Fan Yifei, a former deputy governor of the country’s central bank, has been arrested on suspicion of bribery.
This arrest marks a significant development in President Xi Jinping’s ongoing anti-corruption campaign, particularly within the financial sector.
Fan, aged 59, holds the highest-ranking position at the People’s Bank of China to face arrest in the past decade due to this initiative. The Supreme People’s Procuratorate has stated that Fan will be prosecuted, and the case is currently undergoing further investigation.
Regrettably, Reuters was unable to reach Fan for a comment regarding the matter. State media has reported that Fan was recently expelled from the Communist Party and dismissed from his post due to serious violations of both disciplinary and legal protocols.
According to state media, the leading anti-corruption watchdog revealed that Fan had exploited his position to generate illicit profits through loan financing and accepting property in an unauthorized manner.
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