Chinese authorities charged the former head of Postal Savings Bank of China's (HKG:1658, SHA:601658) branch in Hubei for "serious violations of discipline and law," The Paper reported Wednesday.
According to local media, "serious violations of law and discipline" are a euphemism for corruption.
Zhang Xuesong allegedly illegally organized banquets, and purchased and accepted gifts using public funds, according to the report.
The former branch chief also allegedly did not disclose his family's real estate holdings. He was also said to have accepted bribes, the report said.
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