{"id":38587,"date":"2009-05-09T18:59:39","date_gmt":"2009-05-10T01:59:39","guid":{"rendered":"http:\/\/chinadigitaltimes.net\/?p=38587"},"modified":"2009-05-09T18:59:39","modified_gmt":"2009-05-10T01:59:39","slug":"ex-chinese-bankers-are-sentenced-to-prison-in-482-million-scam","status":"publish","type":"post","link":"https:\/\/chinadigitaltimes.net\/2009\/05\/ex-chinese-bankers-are-sentenced-to-prison-in-482-million-scam\/","title":{"rendered":"Ex-Chinese Bankers Are Sentenced To Prison in $482 Million Scam"},"content":{"rendered":"<p><a href=\"http:\/\/www.washingtonpost.com\/wp-dyn\/content\/article\/2009\/05\/09\/AR2009050902361.html\"><strong>The Washington Post has more details<\/strong><\/a> on the <a href=\"http:\/\/chinadigitaltimes.net\/2009\/05\/us-jails-china-bankers-for-fraud\/\">Bank of China managers sentenced to prison<\/a> in the U.S. for embezzling $482 million:<\/p>\n<blockquote><p>\nFor 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.<\/p>\n<p>But then accountants for the Bank of China noticed missing funds &#8212; which eventually totaled $482 million &#8212; and the men were soon fleeing across the globe, doctoring immigration papers and entering into phony marriages, prosecutors say.<\/p>\n<p>The former bankers&#8217; 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.<\/p>\n<p>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.<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>The Washington Post has more details on the Bank of China managers sentenced to prison in the U.S. for embezzling $482 million: 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 [&hellip;]<\/p>\n","protected":false},"author":33,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[116,2,10],"tags":[5897,203,1835,7963],"class_list":["post-38587","post","type-post","status-publish","format-standard","hentry","category-world","category-economy","category-law","tag-bank-of-china","tag-corruption","tag-embezzlement","tag-us-law","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.9 (Yoast SEO v23.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ex-Chinese Bankers Are Sentenced To Prison in $482 Million Scam<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/chinadigitaltimes.net\/2009\/05\/ex-chinese-bankers-are-sentenced-to-prison-in-482-million-scam\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ex-Chinese Bankers Are Sentenced To Prison in $482 Million Scam\" \/>\n<meta property=\"og:description\" content=\"The Washington Post has more details on the Bank of China managers sentenced to prison in the U.S. for embezzling $482 million: 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 [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"http:\/\/chinadigitaltimes.net\/2009\/05\/ex-chinese-bankers-are-sentenced-to-prison-in-482-million-scam\/\" \/>\n<meta property=\"og:site_name\" content=\"China Digital Times (CDT)\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ChinaDigitalTimes\" \/>\n<meta property=\"article:published_time\" content=\"2009-05-10T01:59:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/chinadigitaltimes.net\/wp-content\/uploads\/2021\/08\/CDT-logo.png\" \/>\n\t<meta property=\"og:image:width\" content=\"186\" \/>\n\t<meta property=\"og:image:height\" content=\"177\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Sophie Beach\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cdt\" \/>\n<meta name=\"twitter:site\" content=\"@cdt\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Sophie Beach\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"http:\/\/chinadigitaltimes.net\/2009\/05\/ex-chinese-bankers-are-sentenced-to-prison-in-482-million-scam\/#article\",\"isPartOf\":{\"@id\":\"http:\/\/chinadigitaltimes.net\/2009\/05\/ex-chinese-bankers-are-sentenced-to-prison-in-482-million-scam\/\"},\"author\":{\"name\":\"Sophie Beach\",\"@id\":\"https:\/\/chinadigitaltimes.net\/#\/schema\/person\/7f19e31b674d57a7dc20aab8e908c663\"},\"headline\":\"Ex-Chinese Bankers Are Sentenced To Prison in $482 Million Scam\",\"datePublished\":\"2009-05-10T01:59:39+00:00\",\"dateModified\":\"2009-05-10T01:59:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"http:\/\/chinadigitaltimes.net\/2009\/05\/ex-chinese-bankers-are-sentenced-to-prison-in-482-million-scam\/\"},\"wordCount\":185,\"publisher\":{\"@id\":\"https:\/\/chinadigitaltimes.net\/#organization\"},\"keywords\":[\"Bank of China\",\"corruption\",\"embezzlement\",\"U.S. law\"],\"articleSection\":[\"China &amp; 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