Official swindles US$15m
By Pan Zheng |
February 19, 2011, Saturday
|
Print Edition
Print Edition
A COUNTY financial bureau official in Jiangxi Province is said to have embezzled nearly 100 million yuan (US$15.2 million) and absconded with his wife and son. The bureau director claimed that he was unaware of the embezzlement.
Li Huabo, the head of the economic construction section of Poyang County Financial Bureau, is reported to have called the bureau on February 11, when he had already escaped from the county, admitting that he had embezzled the money, which the bureau had saved at Rural Credit Cooperatives Bank, by faking official seals, the People's Daily reported.
Xu Deyang, the director of the Poyang Branch of the Rural Credit Cooperatives Bank and Zhang Qinghua, the account administrator of the county financial bureau are now under criminal detention, as they are suspected to have helped Li's embezzlement.
By now, 17.7 million yuan of the embezzled money has been located, authorities are searching for the rest.
Ouyang Changqing, the director of Poyang Financial Bureau, said he was caught unawares by the case. He immediately sent staff to the bank to check the account and reported to the police after he received Li's call.
Local police found Li and Xu had transferred public money into their own company account over the past few years. They are believed to have passed financial inspections by using their official status. The money is suspected to have been used to fund their gambling in Macau.
Li Huabo, the head of the economic construction section of Poyang County Financial Bureau, is reported to have called the bureau on February 11, when he had already escaped from the county, admitting that he had embezzled the money, which the bureau had saved at Rural Credit Cooperatives Bank, by faking official seals, the People's Daily reported.
Xu Deyang, the director of the Poyang Branch of the Rural Credit Cooperatives Bank and Zhang Qinghua, the account administrator of the county financial bureau are now under criminal detention, as they are suspected to have helped Li's embezzlement.
By now, 17.7 million yuan of the embezzled money has been located, authorities are searching for the rest.
Ouyang Changqing, the director of Poyang Financial Bureau, said he was caught unawares by the case. He immediately sent staff to the bank to check the account and reported to the police after he received Li's call.
Local police found Li and Xu had transferred public money into their own company account over the past few years. They are believed to have passed financial inspections by using their official status. The money is suspected to have been used to fund their gambling in Macau.
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