An education company co-founded by Goldman Sachs is at the centre of a corruption probe that has ensnared the head of a leading Chinese state-owned corporation.
Lei Yi, chairman of Yunnan Tin, the world’s largest producer of the industrial metal by volume, has been charged with accepting bribes worth Rmb20m ($3.3m), according to a state media report.
The case against Mr Lei is the latest in a series of investigations launched by China’s new leadership as it attempts to address deep-seated corruption among government officials and their allies in powerful state enterprises.
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