Date
25 September 2017
Liao Yongyuan took bribes and used his position to facilitate job promotions, according to China's corruption watchdog. Photo: Reuters
Liao Yongyuan took bribes and used his position to facilitate job promotions, according to China's corruption watchdog. Photo: Reuters

Former PetroChina vice chairman faces prosecution for graft

Former PetroChina vice chairman Liao Yongyuan will be prosecuted for corruption after being expelled from the Communist Party.

Liao is the latest official and the second highest-ranking executive of China’s top oil and gas producer to be emboiled in a widening crackdown, according to Reuters.

Liao stepped down from his posts as vice chairman and non-executive director in March.

China’s corruption watchdog is accusing Liao of abusing his position to facilitate job promotions and taking “enormous bribes”, according to a statement from the Communist Party cited by Reuters.

The Central Commission for Discipline Inspection said Liao’s case will be handed over to legal authorities for prosecution.

The Communist Party conducts its own investigations before cases are sent to the courts.

The corruption watchdog had previously said Liao was under investigation for “serious disciplinary violations” stemming from his role as a general manager of China National Petroleum Corp., parent company of PetroChina.

Liao was named vice chairman of PetroChina in May 2014 shortly after China said several top executives from the two companies were under investigation.

– Contact us at english@hkej.com

CG/RA

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