Former chairman of New China Life Insurance arrested for suspected embezzlement, bribe-taking

BEIJING, Oct. 12 (Xinhua) — Upon the designation of the Supreme People’s Procuratorate (SPP), the Shandong Provincial People’s Procuratorate has ordered the arrest of Li Quan, former chairman of New China Life Insurance Co., Ltd., for suspected embezzlement and bribe-taking.
Li’s case was investigated by the National Commission of Supervision before it was handed over to prosecutors, the SPP said in a statement on Saturday.
Before his arrest, Li had been expelled from the Communist Party of China over serious violations of Party discipline and laws. ■