Yi, chairman of Yunnan Tin Co. Ltd., was arrested and charged
with allegedly accepting 20 million yuan ($3.3 million) in
bribes, Chinas official Xinhua News Agency reported.
Lei allegedly received
bribes from four people, including Leed International Education
Group chairman Li Hongtao, the report said.
Leed was formed in
2008 as a joint venture between New York-based Goldman Sachs
Group Inc. and Beijing National Education Group, the
Financial Times reported Oct. 9.
Goldman Sachs declined
to comment, but there is no suggestion that the bank behaved
Yunnan Tin, the
worlds largest producer of refined tin, couldnt be
reached for comment.
On July 6, Yunnan Tin
said Leis corporate duties had been assumed by a deputy
as Lei was under investigation for "serious discipline
Yunnan Tin produced
about 70,000 tonnes of refined tin last year, nearly double the
output of No. 2 producer Malaysia Smelting Corp. Bhd.
A version of this
article was first published in AMM sister publication Metal