BEIJING, May 20 (Xinhua) -- Yang Kun, former vice president of the Agricultural Bank of China, was expelled from the Communist Party of China (CPC) and removed from public office, according to a Monday statement.
Yang has been investigated for serious discipline violations by the CPC Central Commission for Discipline Inspection (CCDI), according to a statement from CCDI.@ The investigation showed that he used his position to obtain benefits for other people in return for large bribes, the statement said.
Yang has violated CPC discipline and is suspected of taking bribes, it said.
Yang's case has been handed over to judicial authorities, the statement added.
Last May, the Agricultural Bank of China, the country's third-largest bank by market value, said in a statement that Yang was "assisting in an investigation" but did not elaborate on who was conducting the investigation or what the investigation was about.
In July, the bank announced that Yang had resigned from his position as executive director, vice president and member of a special committee under the board for personal reasons.
Yang, 53, holds a master's degree in economics and has been working with the bank for more than two decades.
He had been the bank's vice president and executive director since January 2009.