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Theft leads to discovery of 50m yuan corruption case
By Li Qian |
December 22, 2011, Thursday
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Online Edition
Online Edition
THE head of China's largest coking coal producer has been sacked for corruption after burglars stole 50 million yuan (US$7.91 million) worth of foreign cash, gold bars, expensive watches and diamonds from his home, the News Express reported today.
Bai Peizhong, 48, chairman of the state-owned Shanxi Coking Coal Group, was allegedly robbed of 6 million yuan, 1 million HK dollars, 3 million euros and US$270,000 in cash, 8 kilograms of gold, numerous luxury watches and diamonds, the paper said.
Police in Taiyuan, capital of northern Shanxi Province said two security guards of Bai's residential complex committed the burglary but gave no more details, according to the report.
The two guards often helped Bai to carry heavy items to his apartment and guessed these items must be very precious. They broke in Bai's home when his wife was home alone in November, the paper said.
After plundering Bai's home, they fled in his wife's Audi, feeling sure that Bai dared not call the police because the stolen items were his bribes. But Bai's wife reported the theft to the police and the two guards were soon caught, the paper said.
Bai is now being investigated by the provincial disciplinary department.
Bai Peizhong, 48, chairman of the state-owned Shanxi Coking Coal Group, was allegedly robbed of 6 million yuan, 1 million HK dollars, 3 million euros and US$270,000 in cash, 8 kilograms of gold, numerous luxury watches and diamonds, the paper said.
Police in Taiyuan, capital of northern Shanxi Province said two security guards of Bai's residential complex committed the burglary but gave no more details, according to the report.
The two guards often helped Bai to carry heavy items to his apartment and guessed these items must be very precious. They broke in Bai's home when his wife was home alone in November, the paper said.
After plundering Bai's home, they fled in his wife's Audi, feeling sure that Bai dared not call the police because the stolen items were his bribes. But Bai's wife reported the theft to the police and the two guards were soon caught, the paper said.
Bai is now being investigated by the provincial disciplinary department.
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