CHINA CONSTRUCTION BANK BOSS ADMITS BRIBES FROM INSURER AGENT

Zhang Enzhao, formerly the chairman of China Construction Bank Corp, has acknowledged in court that some of the “gifts” he received were provided by a salesman representing a software unit of Florida-based title insurer Fidelity National Financial, reports Associated Press . Mr Zhang, who resigned from his post 16 months ago, admitted in a Beijing court on September 28 that he had accepted 19 bribes valued at 4.18m yuan from 2001 to 2004, of which he claimed 2.65m came from Zou Jianhua. Mr Zou was at that time a sales agent for Fidelity Information Services, a unit of Fidelity National. The insurer denies any wrong doing. Neither Mr Zhang nor the prosecutors in the case against him named Fidelity National during the trial. Mr Zhang has admitted accepting a flat in Shanghai valued at $334,000 and a watch valued at $2,400 from Mr Zou