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Eight insiders embezzle 94m yuan of fund
By Pan Zheng |
March 7, 2011, Monday
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Online Edition
Online Edition
Prosecutors have identified eight suspects for embezzling 94 million yuan (US$14.3 million) of government fund in Poyang County, Jiangxi Province. Six of them have been nabbed and two are hiding out overseas, Xinhua reported today.
Li Huabo, the chief of the economic construction department of Poyang County Finance Bureau, and his colleagues allegedly stole the money the bureau had deposited in the Rural Credit Cooperatives Bank by forging official seals. Li admitted to his crime in a phone call to his superior on February 11 when he was already abroad.
The police said all the bank accounts involved had been frozen and 13.8 million yuan of cash and properties had been recovered by March 3, according to the Xinhua report.
Poyang County government has taken prompt measures to ensure the operation of its finance.
Li Huabo, the chief of the economic construction department of Poyang County Finance Bureau, and his colleagues allegedly stole the money the bureau had deposited in the Rural Credit Cooperatives Bank by forging official seals. Li admitted to his crime in a phone call to his superior on February 11 when he was already abroad.
The police said all the bank accounts involved had been frozen and 13.8 million yuan of cash and properties had been recovered by March 3, according to the Xinhua report.
Poyang County government has taken prompt measures to ensure the operation of its finance.
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