Thursday, August 30, 2012

The Bad Guys Are Even In China

The BAD guys are EVEN in China!!Angry smile

China official flees country with funds: report
by Staff Writers
Beijing (AFP) Aug 29, 2012

An official in northeast China has fled the country, allegedly taking tens of millions of dollars with him, amid a probe into corruption, a state newspaper said Wednesday.
The communist party chief of Fengcheng, a city in Liaoning province, left in April with as much as 200 million yuan ($32 million), the official China Daily Newspaper said.
The report quoted a spokesman for Dandong city, which administers Fengcheng, confirming the disappearance of party head Wang Guoqiang, although he could not verify the amount of money taken.
Anonymous Internet postings, which could not be verified, said Wang had fled to the United States amid a party investigation into a company run by a former classmate which had dealings with the city.
Fengcheng has not made a public statement about the issue, but the city on Monday announced a new party secretary to replace Wang, according to a statement. The local government could not be reached on Wednesday.
A Chinese study released last year estimated corrupt officials have siphoned off more than $120 billion from the country in less than two decades.
Between 16,000 and 18,000 government officials and executives of state-owned firms have fled China or simply vanished with illegal gains, according to the study by the country's central bank.
Higher-ranking officials carrying larger sums of money mostly go to developed nations like the United States, Canada and Australia, while others choose destinations closer to home, such as Russia and Thailand, it said.
In one notable case, three managers at a Bank of China branch fled to the United States and Canada in 2001 with $483 million.
Early this year, China's Premier Wen Jiabao said corruption was the biggest threat facing the party.

No comments: