May 31,2012
Translated by Tang Xiangyang

The Agricultural Bank of China Wednesday said that one of its vice presidents, Yang Kun, has been detained by the communist party’s Central Commission for Discipline Inspection.

It was reported on Wednesday that Yang is involved in a gambling scandal along with the head of a Beijing property company. The events took place in 2004, when Yang was president in charge of home loans, but they were only discovered last year.

Yang is the highest-level banking executive to be placed under investigation by the Commission for Discipline Inspection since the state-owned banks’ shareholding structures were reformed in 2003.  

Yang is also the executive director of the Agricultural Bank, and before his detention was seen as a possible candidate for the future president, board director and chief supervisor.

Agricultural Bank of China said in its statement that its business, daily operation and financial situation won’t be affected by Yang’s detainment.

 
Links and Sources
Beijing News 農行：副行長楊琨正協助調查