China's Biggest Bank Corruption Criminal Repatriated From U.S. - World Affairs - Chinadaily Forum
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China's Biggest Bank Corruption Criminal Repatriated From U.S. [Copy link] 中文

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Post time 2018-7-11 18:06:02 |Display all floors
This post was edited by UYA at 2018-7-11 18:08

BEIJING (REUTERS) - A Chinese man who embezzled $485 million from his employer in the biggest bank corruption case in China's history was repatriated on Wednesday by U.S. authorities, the country's anti-graft agency said.

China's widely-publicised "Sky Net" operations to bring home overseas fugitives suspected of corruption and economic crimes are a key plank of President Xi Jinping's sweeping campaign to eradicate graft.

Xu Chaofan, a former president of a sub-branch of the Bank of China at Kaiping in southern Guangdong province, fled to the United States in 2001, but was detained in 2003 following the cooperation of law enforcement officials in the two countries.


He was convicted of the crime and sentenced to a 25-year prison term in the United States in 2009 and had been serving his time there, China's Central Commission for Discipline Inspection (CCDI) said in a statement, until he accepted repatriation following pressure by U.S. and Chinese authorities.


More than 2 billion yuan ($300 million) of the amount Xu stole has been recovered, the agency added.

China has turned up the pressure on graft suspects overseas by asking families to contact them and encourage them to return, as well as by releasing personal details, such as their addresses.

But it has had limited success in securing cooperation from Western countries such as Australia, Canada and the United States, where many of the most wanted live, largely because of what those governments see as a lack of transparency and due process in China's judicial system.

($1=6.6566 Chinese yuan renminbi)

(Reporting by Lusha Zhang and Se Young Lee; Editing by Clarence Fernandez)


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Post time 2018-7-11 18:11:11 |Display all floors
Its NOT "Business as usual" anymore!

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Post time 2018-7-11 18:28:03 |Display all floors
UYA Post time: 2018-7-11 11:11
Its NOT "Business as usual" anymore!

Round Up is good for developing the mind

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Post time 2018-7-15 05:18:45 |Display all floors
Motika Post time: 2018-7-11 18:28

It seems to be good business for China, to enforce anti-corruption efforts.
My count is BILLIONS in $$$$$

Maybe offering a "commision" to whistleblowers, would uncover more.

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Post time 2018-7-15 15:36:32 |Display all floors
UYA Post time: 2018-7-14 22:18
It seems to be good business for China, to enforce anti-corruption efforts.
My count is BILLIONS i ...

Round Up is good for developing the mind

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Post time 2018-7-16 10:37:17 |Display all floors

RE: China's Biggest Bank Corruption Criminal Repatriated From U.S.

UYA Post time: 2018-7-15 05:18
It seems to be good business for China, to enforce anti-corruption efforts.
My count is BILLIONS i ...

Indeed, a whistle-blower reward and protection should be offered to international organisations, private companies, professional and business associations, trade unions and trade union associations, journalists, media representatives, civil society, academics and the general public.


  The European Commission has recently proposed a directive that provides horizontal protection for whistleblowers in the EU. This could put China on par with the EU and the US with respect to protection...

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Post time 2018-7-16 10:52:17 |Display all floors
UYA Post time: 2018-7-15 05:18
It seems to be good business for China, to enforce anti-corruption efforts.
My count is BILLIONS i ...

Swiss bank whistleblower Hervé Falciani is currently out on bail...
  Falciani who was sentenced in absentia to five years in prison by a Swiss court in 2015 for leaking information allegedly showing HSBC's private banking arm in Switzerland helped clients evade billions of dollars in taxes...
   The 46-year-old was previously arrested in Spain in July 2012 but the Spanish High Court ended up refusing his extradition saying Falciani's actions were not crimes in Spain and that Switzerland's agenda was “political and cannot serve as the basis for an extradition request”.

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