China Says Billions Missing From Public Funds

From AFP:

Over 34.4 billion dollars went missing from public funds in China in the first 11 months of 2009, state media said Tuesday, with national auditors highlighting embezzlement, waste and fraud.

Over 230 people, including 67 government officials, have been handed over to disciplinary or judicial authorities for their roles in the missing funds, the China Daily said, citing the National Audit Office.

The audit covered 99,000 companies, government agencies and public institutions across the nation, Liu Jiayi, China’s top auditor, told a national auditing conference.

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