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School fleeces students for loan business
By Pan Zheng |
December 20, 2011, Tuesday
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Online Edition
Online Edition
A middle school in the eastern Anhui Province was found to have earned more than 7.7 million yuan in recent years by charging fees on students. Most of the money was then used to lend loans, Anhui Market News reported today.
The accountant of Huangtang Middle School in Nanling County, surnamed Sheng, has been sentenced to three years in prison with a three-year reprieve for embezzlement and the school principal surnamed Zhang was given disciplinary punishment.
The prosecutors said they received tip-offs from some teachers in June and started an investigation which showed that the school made more than 7.7 million yuan in the past few years by charging various fees, such as costs for extra lessons and text materials.
The prosecutors said some money was used to pay teachers as bonuses but the majority was deposited in a company for lending. Zhang and Sheng earned more than 100,000 yuan from the loan business.
The accountant of Huangtang Middle School in Nanling County, surnamed Sheng, has been sentenced to three years in prison with a three-year reprieve for embezzlement and the school principal surnamed Zhang was given disciplinary punishment.
The prosecutors said they received tip-offs from some teachers in June and started an investigation which showed that the school made more than 7.7 million yuan in the past few years by charging various fees, such as costs for extra lessons and text materials.
The prosecutors said some money was used to pay teachers as bonuses but the majority was deposited in a company for lending. Zhang and Sheng earned more than 100,000 yuan from the loan business.
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