BEIJING
A Beijing official has been expelled from the Communist Party of China and will face prosecution for embezzling 821 million yuan ($134.2 million) to conduct financial transactions, according to state media Sunday.
The former director of the agricultural service center of Machikou township, Changping district, used escrow funds for investment between September 2008 and April 2014, Xinhua reported.
It also cited a statement on the Central Commission for Discipline Inspection (CCDI) website as saying that Zhang Peishan had transferred three million yuan in funds to a personal account alongside taking a 140,000 yuan from a loan and trust company.
His case has been handed to judicial organs.
Xinhua reported that Zhang has become one of 165 officials who have been named and shamed by the CCDI – which has been making graft cases public since April last year – due to embezzlement of public funds, accepting bribes, dereliction of duty, lavish banquets and other violations.
Since President Xi Jinping launched an anti-corruption campaign in 2013, tens of thousands of suspects have been investigated, including dozens of high-profile individuals at the top of the Communist Party.
