Former vice president of China Development Bank indicted for corruption

He Xingxiang, former vice president of China Development Bank, has been indicted on charges of taking bribes, local media reported on Friday.

He has also been charged with issuing financial bills and granting loans illegally, and concealing overseas bank deposits.

He's case has been filed with a Beijing court, Xinhua news agency reported.

Prosecutors have accused He of taking advantage of his positions to seek benefits for enterprises and individuals and accepting a huge amount of money and valuables in return.

He was also accused of issuing financial bills in serious violation of regulations and granting a huge amount of loans in violation of state regulations.

The top official also concealed large amounts of overseas bank deposits, according to Xinhua.

( With inputs from ANI )