RR Phantom
Location : Wasted Space Job/hobbies : Cayman Islands Actuary
| Subject: Thousands of corrupt Chinese officials have stolen more than $US120 billion and then fled the country Sun Jun 19, 2011 6:03 am | |
| THOUSANDS of corrupt Chinese officials have stolen more than $US120 billion ($A114.18 billion) and fled overseas since the mid-1990s - and the US was a top destination, according to a report released by the country's central bank.
The report, released this week by the People's Bank of China, says between 16,000 to 18,000 government officials and executives at state-owned enterprises smuggled about 800 billion yuan ($A117 billion) out of China between the mid-'90s and 2008.
The study says the officials smuggled money into the US, Australia, Canada and Holland, using offshore bank accounts or investments such as real estate or collectibles.
http://www.smh.com.au/business/report-chinese-officials-stole-120-bn-20110618-1g9c4.html |
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