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China arrests dozens in $900m bank fraud.(front page)(Brief Article)

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| March 01, 2005 | COPYRIGHT 2005 National Association of Credit Management. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Chinese authorities have arrested dozens of government officials and others accused in a scheme to steal 7.4 billion yuan ($900 million) from a state bank through fraudulent loans. The government has dismissed 80 officials accused of colluding in the scheme. According to investigators, the scheme at ICBC was led by businessman Feng Mingchang. Dozens of bank and ...

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Source: HighBeam Research, China arrests dozens in $900m bank fraud.(front page)(Brief Article)

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