Trial For Official Over China Fund Scandal – AFP
An official in one of China’s southern economic hubs has gone on trial for misusing around 100 million dollars of the city’s pension funds, state press reported Wednesday.
Liu Yuhong (ÂàòÈõ®ÂÆè), who went on trial on Tuesday, is one of at least 18 people to face criminal charges in Guangzhou, the capital of Guangdong province, over the pension money that went missing in the mid-1990s, Xinhua news agency said.
The scandal, which has been reported in the Chinese media but received little attention from the foreign press, has similarities with the misuse of the Shanghai pension fund that led to the ouster of the city’s chief last year. [Full Text]