Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

Former CFA president Chen Xuyuan faces bribery charges

EditorAmbhini Aishwarya
Published 09/27/2023, 03:14 AM
© Reuters.

Chen Xuyuan, the former president of the Chinese Football Association (CFA), has been prosecuted for accepting bribes, as announced by the Hubei Provincial People's Procuratorate on Tuesday. The allegations suggest that Chen exploited his influential positions at various organizations to secure benefits for others and accept a significant amount of money in bribes.

Chen held high-ranking roles at the Shanghai International Port (Group) Co., Ltd., the preparatory team for the leadership change of the CFA, and the CFA itself. These positions provided him with opportunities to seek benefits for others while accepting bribes.

The prosecution was initiated upon the designation of the Hubei Provincial People's Procuratorate. It followed thorough investigations into Chen's cases conducted by the provincial supervisory commission of Hubei. The prosecution was brought by a procuratorate in Huangshi, a city in Hubei province.

The Huangshi Municipal People's Procuratorate has now initiated a public prosecution against Chen at the Intermediate People's Court of Huangshi.

Chen was elected as the president of the CFA in 2019, marking his ascension to one of the most influential positions in Chinese football. His prosecution marks a significant development in China's ongoing efforts to address corruption within its sporting institutions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.