Caixin Exclusive: Disgraced Exec at Sino-French Insurer Likely Tied to Corrupt ICBC Officials

Tao Zhongwei, a vice president at ICBC-Axa, is being investigated in a case likely linked to two fallen officials from state-owned banking giant, sources say

Tao Zhongwei. Photo: File photo

A senior official at a Sino-French life insurer backed by Industrial and Commercial Bank of China Ltd. (ICBC) has fallen under a graft probe, in a case likely tied to two fallen officials at the state-owned banking giant, sources told Caixin.

Tao Zhongwei, a vice president of ICBC-Axa Assurance Co. Ltd., is being investigated by authorities for suspected corruption, according to a Friday announcement by the country’s top graft-buster.