Xu Peng Arrested for Corruption | Misappropriation of Public Funds | Xu Peng
The case of Xu Peng, former director and deputy secretary of the Party Committee of Shanghai Electric Tool Research Institute, suspected of misappropriating public funds, corruption, and bribery has been investigated and concluded by the Shanghai Municipal Supervision Commission, and transferred to the procuratorial organs for examination and prosecution. Recently, the Third Branch of the Shanghai People's Procuratorate made an arrest decision against Xu Peng on suspicion of embezzlement of public funds, corruption, and bribery in accordance with the law. The case is being further processed.
Previously, the Shanghai Municipal Commission for Discipline Inspection and Supervision reported that as a party member and leading cadre, Xu Peng lost his ideals and beliefs, abandoned his original mission, and for a long time, he also served as an official in business and relied on enterprises for personal gain. He used the management authority granted by the organization to state-owned enterprises as a tool for personal gain. Xu Peng has been engaged in illegal business operations for a long time, using his power to seek benefits for private enterprises that he holds shares in and actually controls; Utilize the convenience of one's position, embezzle public funds recklessly, engage in profit-making activities, and seek personal interests; Repeatedly embezzling and defrauding public funds; Seeking benefits for others and illegally accepting property from others.