The former chairman of China Everbright Group, Tang Shuangning, who used to serve as a senior official at the People’s Bank of China and the China Banking Regulatory Commission, is under indictment Friday on bribery and embezzlement charges.

Tang was originally arrested in January. On Friday, the investigation of Tang was concluded by the National Supervisory Commission. Designated by the Supreme People’s Procuratorate, the Tangshan People’s Procuratorate of Hebei Province is responsible for the commencement of the examination and prosecution, who recently filed a public prosecution with the Tangshan Intermediate People’s Court.

Tangshan People’s Procuratorate alleges that Tang took advantage of his position as director of the First Department of Banking Supervision of the People’s Bank of China and appropriated the public property he kept, using it as his own. It also alleges that Tang took advantage of his positions as vice Chairman of the Party Committee of the China Banking Regulatory Commission, Secretary and Chairman of the Party Committee of China Everbright Group and chairman of the Party Committee of Everbright Bank to seek benefits from others in financial matters such as obtaining loans with illegal process, positing adjustment and illegally accepting property.

Tang’s predecessor at China Everbright Group, Li Xiaopeng, was also investigated for bribery charges, removed from his position and expelled from the Chinese Communist Party (CCP). The former chairman of the Bank of China, Liu Liange, was indicted on similar charges. Zhang Hongli, the former senior official of the Industrial and Commercial Bank of China, which is the biggest bank in the country, has also been investigated for embezzlement.