From the New York Times:
In a reversal of fortunes that may say as much about Chinese power politics as it does about corruption, China’s richest commercial city has come under investigation by the central government for a huge pension fraud scheme.
So far, the budding scandal, which has been written about in unusual detail in the country’s news media, has ensnared the chief of the city’s Labor and Social Security Bureau, or pension fund, along with the chairman of the Shanghai Electric Group, a municipal utility. [Full Text]
See CDT’s Graft Eats Up Social Security Funds