China says recovers $18 bln in embezzled funds

It has used the death penalty as a deterrent in serious cases.

China says recovers $18 bln in embezzled funds

China's top auditing body said on Monday that it had recovered or had returned to it about 122.3 billion yuan ($18.57 billion) in embezzled government funds as of last year, detaining or prosecuting 95 people in the process.

A further 1,103 people were punished by the Communist Party or other government disciplinary bodies during a probe into embezzlement in 2009, it added in a lengthy statement on its website (www.audit.gov.cn).

It outlined details of 28 cases it had dealt with by the end of 2010, including the siphoning off of money from rural infrastructure projects and rebuilding efforts following natural disasters.

The report did not provided comparative figures for previous years.

Despite a series of high-profile anti-corruption campaigns, official graft remains a major complaint for ordinary Chinese, and the ruling Communist Party has warned it could undermine its authority.

It has used the death penalty as a deterrent in serious cases.

In late 2009, the government executed a former securities trader for embezzlement, the first person in the industry to be put to death. ($1=6.587 Yuan)
 

Reuters

Last Mod: 17 Ocak 2011, 15:22
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