After leaving the company, still using the original position to influence and profit, former Sinochem Group Vice President Feng Zhibin has been arrested and formally prosecuted (update)

【Caixin】 Feng Zhibin, the former deputy general manager and Party leadership member of China Sinochem Group Co., Ltd. (hereinafter referred to as “Sinochem Group”), has been arrested and prosecutors have filed charges against him.

On April 8, the Supreme People’s Court released the above information. Feng Zhibin is suspected of taking bribes and abusing authority for personal gain by personnel of a state-owned company. The case has been investigated and concluded by the National Supervisory Commission, and has been transferred to the procuratorate for review and prosecution. The Heilongjiang Provincial Procuratorate has issued an arrest warrant for Feng Zhibin and filed charges against him for the above-mentioned crimes.

In its indictment, the procuratorial authorities alleged that Feng Zhibin took advantage of the conveniences arising from positions he held, including deputy general manager, assistant to the general manager concurrently serving as head of the investment department at Sinochem Group, chairman of the former China International Economic and Trade Trust and Investment Co., Ltd., chairman and general manager of Sinochem Tiantian Group, and general manager of Sinochem Fertilizer, to seek benefits for others, illegally accept other people’s property, with the amounts being especially huge; after leaving his post, he took advantage of the conveniences formed by his former powers or status, and through the acts in the course of duty of other state functionaries, sought improper benefits for others, illegally accepted other people’s property, with the amounts being especially huge; as a staff member of a state-owned company, he engaged in malfeasance for personal gain, abused his authority, causing serious losses to the state-owned company, which resulted in particularly huge losses to the interests of the state.