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15 years for embezzler who fled to Canada
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GAO Shan, a former employee of the Bank of China, was sentenced to 15 years in prison yesterday for his part in embezzling more than 800 million yuan (US$130.3 million).
Gao, the manager of a branch in Harbin, capital of northeast China’s Heilongjiang Province, fled to Canada in December 2004.
However, three years later he was arrested by police in Vancouver for giving false details on his application for immigration.
He turned himself in to Chinese police in August 2012, saying that his years abroad had been hard, and he wished to come back home to tell the truth.
Two other people involved in the case, Li Dongzhe and Li Donghu, were sentenced to life and 25 years in prison.
A prosecutor told a court in Harbin that the three illegally obtained deposits from 26 companies totaling 2.8 billion yuan. Most of the money had been recovered but six companies sustained total losses of 800 million yuan.
Li Dongzhe persuaded several state-owned companies to deposit huge sums of money in Gao’s branch.
The money was then transferred by Gao to dozens of accounts controlled by Li.
The case attracted wide public attention because of the huge sums involved and the fact that the money had been transferred abroad.
It sent shockwaves through the banking sector, and along with other corruption scandals led to a large-scale personnel reshuffle in the lender’s branches.
Other big state-owned banks and the country’s financial regulatory system were also called into question.
Cases can take years as they involve complex investigations and extradition procedures in addition to court hearings. Gao’s verdict came 10 years after his escape abroad.
Another Vancouver resident, Lai Changxing, called “China’s most wanted fugitive,” was sentenced to life in prison in 2012 for his involvement in a multi-billion-dollar smuggling operation in the late 1990s.
Lai had sent a message of support to Gao after a successful bail hearing in Canada in 2007.
The cases underscore challenges China faces in tracking down suspects who have fled abroad.
China has extradition treaties with 38 countries, but not the United States, Canada and Australia — the three most popular destinations for criminals.
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