Monday, December 29, 2008

Yuan Watch : Fraud prevention

(I know that you know what I'm thinkin' - AM)
December 29, 2008

BEIJING - An executive at a major Chinese state-owned mining company was sentenced to death for taking bribes and embezzling more than US$10 million (S$14.4 million), state media reported on Monday.

Yu Weiping, deputy manager of Yunnan Copper Group, took bribes of more than 4 million dollars, and embezzled over 41 million yuan (S$8.6 million), the official Xinhua news agency reported.

Yu also misappropriated 27 million yuan and lent the money to others, Xinhua quoted the Intermediate People's Court in Kunming, capital of the southwestern province of Yunnan, as saying.

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