Former China National Petroleum Corporation (CNPC) chief Jiang Jiemin pleaded guilty Monday to corruption during his tenure at the state owned oil giant.
Jiang, 61, apologized to court officials after confessing to abuses of power and accepting bribes, Bloomberg said.
“The crimes I committed are severe and my family assets are far more than my lawful earnings,” Jiang said, according to a microblog post made by the Hanjiang Intermediate People’s Court.
Jiang used his post at CNPC to help unidentified parties win contracts for exploration, natural gas supply and gas turbine projects.
The former chief and his wife allegedly accepted over $2 million in bribes in exchange for Jiang exerting his influence during contract bids and when CNPC was making hiring and promotion decision.
A judge must still render a verdict in the case.
The probe started in 2013 after the Communist Party began a secret investigation into alleged payouts Jiang made to the victims of a car crash that killed the son of former Party leader Hu Jintao.
The crackdown has also ensnared China’s former security chief and CNPC veteran Zhou Yongkang who is being investigated for economic crimes dating back nearly 40 years to the end of the Cultural Revolution, the FCPA Blog said.
Last year the Chinese government seized $14.5 billion in assets from Zhou, 72, after questioning hundreds of his relatives and colleagues about alleged corruption.
Zhou will also face trial for corruption charges but a start date for the proceedings has not been set yet.