Water boss’s cash hoard
Print Edition
WHEN investigators went to the home of the former water boss of Qinhuangdao in north China’s Hebei Province, they found 120 million yuan (US$19.6 million) in cash, 37 kilograms of gold and 68 real estate certificates.
Ma Chaoqun is suspected of corruption, taking bribes and siphoning off state funds, yesterday’s Southern Metropolis Daily reported.
If the cash found at Ma’s home was in 100 yuan notes, they would weigh 1.38 tons and make a pile 12 kilometers high, it said. The gold found is valued at almost 84.36 million yuan.
Ma became general manager of the state-owned water supply company in 2011.
In China, water, electricity and energy are state monopolies and even minor officials have considerable power in approving projects and controlling the market, which can present opportunities for corruption.
Earlier this year, in the biggest seizure of cash so far, investigators seized more than 200 million yuan at the home of Wei Pengyuan, vice director of the National Energy Administration’s coal department.
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