Chinese Audit Cites Widespread Misuse of Government Funds

The International Herald Tribune reports on official figures:

Ten central government departments, including the powerful Ministry of Finance, “misused or embezzled” more than 4.52 billion yuan, or $660 million, last year, according to a report from China’s top auditor.

The report also said that 14 officials were referred for prosecution, 88 people in all were arrested and an additional 104 government employees were punished for their roles in mismanaging or embezzling what amounted to billions of dollars of additional government funds, state media reported Thursday.

Even the State Administration of Taxation was accused of fraud.

Read the Xinhua report on this topic.

August 28, 2008 7:08 PM
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Categories: Economy, Law