For more than a decade, the bank managers lived in high style, jetting to Las Vegas and Macau to bet millions at the baccarat tables, staying for free in casino hotels and lavishing gem-studded watches on their wives.
But then accountants for the Bank of China noticed missing funds — which eventually totaled $482 million — and the men were soon fleeing across the globe, doctoring immigration papers and entering into phony marriages, prosecutors say.
The former bankers’ gamble ended last week, when a federal judge in Nevada sentenced Xu Chaofan to 25 years and Xu Guojun to 22 years on charges of racketeering, money laundering and visa fraud. Their wives, who were charged with passport fraud and with helping their husbands launder money, received eight-year prison terms.
For now, the men will remain in the North Las Vegas detention facility, where they have spent nearly five years since their capture, while their wives face deportation proceedings.