Two former insurance agents of Anda Life Insurance were suspected of acting as "puppet insurance agents" from 2019 to 2020, falsely claiming to Anda that they handled 4 policies and transferred most of the commissions and bonuses of more than 1.2 million yuan. I was charged today (5th) by the Independent Commission Against Corruption with one count of conspiracy to deal with property known or believed to represent the proceeds of an indictable offence.
The two defendants are now on bail pending their plea in the Eastern District Court on Thursday (7th).
The Independent Commission Against Corruption has charged two former insurance agents of Anda Life Insurance Company Limited with one count each of conspiracy to deal with property known or believed to represent the proceeds of an indictable offence.
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The defendants are Ouyang Yuhuan (44 years old) and Zheng Zisheng (27 years old), both former insurance agents of Anda Life Insurance Co., Ltd., each charged with one count of conspiracy to deal with known or believed to represent proceeds of an indictable offence property charges.
The charge alleges that the two defendants joined Anda as insurance agents at the end of June 2019, and the case took place from May 2019 to August 2020. The two were listed as handling agents for 3 and 1 insurance policies, respectively. More than 960,000 yuan and more than 270,000 yuan were awarded commissions and bonuses respectively.
However, the two were accused of not being the handling agents of the four insurance policies involved, while Ouyang Yuhuan and Zheng Zisheng allegedly retained more than 127,000 yuan and more than 27,000 yuan as remuneration after receiving the above commissions and bonuses. More than $1 million was transferred to those who solicited their involvement in related activities.
Ouyang Yuhuan is suspected of conspiring, knowing or having reasonable grounds to believe that the sum of more than 960,000 yuan, in whole or in part, directly or indirectly represents the proceeds of an indictable crime, and still deal with it.
Zheng Zisheng is suspected of conspiring with others to handle the sum of more than 270,000 yuan.
The ICAC said that after receiving a corruption complaint earlier, it launched an investigation. After seeking legal advice from the Department of Justice, the two defendants were charged according to the relevant legal advice.
Corruption investigations are still ongoing, and the ICAC does not rule out further enforcement actions.
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