Theft reveals corruption
By Li Qian |
December 23, 2011, Friday
|
Print Edition
Print 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 cash, gold, pricey watches and diamonds from his home, officials said yesterday.
Bai Peizhong, 48, chairman of the state-owned Shanxi Coking Coal Group, was robbed of 6 million yuan, 3 million euros, other foreign currency, eight kilograms of gold bars and more, the News Express reported yesterday.
Police in Taiyuan, capital of northern China's Shanxi Province, said two security guards at Bai's residence committed the burglary, breaking into his home when his wife was home alone in November, the paper said.
They fled in his wife's Audi, feeling sure that Bai dare not call the police because the stolen items were his bribes. But Bai's wife reported the theft to police and the two guards were soon caught, the paper said. Bai is now under criminal investigation.
Bai Peizhong, 48, chairman of the state-owned Shanxi Coking Coal Group, was robbed of 6 million yuan, 3 million euros, other foreign currency, eight kilograms of gold bars and more, the News Express reported yesterday.
Police in Taiyuan, capital of northern China's Shanxi Province, said two security guards at Bai's residence committed the burglary, breaking into his home when his wife was home alone in November, the paper said.
They fled in his wife's Audi, feeling sure that Bai dare not call the police because the stolen items were his bribes. But Bai's wife reported the theft to police and the two guards were soon caught, the paper said. Bai is now under criminal investigation.
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