{"id":8256,"date":"2006-06-27T06:14:46","date_gmt":"2006-06-27T13:14:46","guid":{"rendered":"http:\/\/chinadigitaltimes.net\/2006\/06\/27\/auditors-find-billions-in-fraud-at-agricultural-bank-leo-zhang\/"},"modified":"2006-06-27T06:14:46","modified_gmt":"2006-06-27T13:14:46","slug":"auditors-find-billions-in-fraud-at-agricultural-bank-leo-zhang","status":"publish","type":"post","link":"https:\/\/chinadigitaltimes.net\/2006\/06\/auditors-find-billions-in-fraud-at-agricultural-bank-leo-zhang\/","title":{"rendered":"Auditors find billions in fraud at Agricultural Bank &#8211; Leo Zhang"},"content":{"rendered":"<p>From Shanghai Daily:<\/p>\n<blockquote><p>Auditors say they&#8217;ve uncovered 60.3 billion yuan (US$7.5 billion) worth of financial crimes and bookkeeping irregularities at the<a href=\"http:\/\/en.wikipedia.org\/wiki\/Agricultural_Bank_of_China\"> Agricultural Bank of China<\/a>, underscoring the challenges regulators face as they attempt to reform the weakest of the nation&#8217;s state-owned banks.<\/p>\n<p>The probe discovered 51 cases of fraud worth 8.7 billion yuan and involving 157 employees, the China National Audit Office said in a Website statement yesterday. The investigation, which focused on 2004, covered the Beijing-based bank&#8217;s headquarters and 21 branches.<\/p>\n<p>&#8220;The cases included not only loan fraud involving persons outside the bank but also the embezzlement of funds by bank employees who conspired with outside parties,&#8221; the statement said. <a href=\"http:\/\/www.shanghaidaily.com\/art\/2006\/06\/27\/284393\/Auditors_find_billions_in_fraud_at_Ag_Bank.htm\">[Full Text]<\/a><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>From Shanghai Daily: Auditors say they&#8217;ve uncovered 60.3 billion yuan (US$7.5 billion) worth of financial crimes and bookkeeping irregularities at the Agricultural Bank of China, underscoring the challenges regulators face as they attempt to reform the weakest of the nation&#8217;s state-owned banks. The probe discovered 51 cases of fraud worth 8.7 billion yuan and involving [&hellip;]<\/p>\n","protected":false},"author":76,"featured_media":0,"comment_status":"closed","ping_status":"closed","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":[2],"tags":[3255,3493,203],"class_list":["post-8256","post","type-post","status-publish","format-standard","hentry","category-economy","tag-agricultural-bank-of-china","tag-banking-fraud","tag-corruption","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>Auditors find billions in fraud at Agricultural Bank - Leo Zhang<\/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\/2006\/06\/auditors-find-billions-in-fraud-at-agricultural-bank-leo-zhang\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Auditors find billions in fraud at Agricultural Bank - Leo Zhang\" \/>\n<meta property=\"og:description\" content=\"From Shanghai Daily: Auditors say they&#8217;ve uncovered 60.3 billion yuan (US$7.5 billion) worth of financial crimes and bookkeeping irregularities at the Agricultural Bank of China, underscoring the challenges regulators face as they attempt to reform the weakest of the nation&#8217;s state-owned banks. The probe discovered 51 cases of fraud worth 8.7 billion yuan and involving [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"http:\/\/chinadigitaltimes.net\/2006\/06\/auditors-find-billions-in-fraud-at-agricultural-bank-leo-zhang\/\" \/>\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=\"2006-06-27T13:14:46+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=\"Mo Ming\" \/>\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=\"Mo Ming\" \/>\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\/2006\/06\/auditors-find-billions-in-fraud-at-agricultural-bank-leo-zhang\/#article\",\"isPartOf\":{\"@id\":\"http:\/\/chinadigitaltimes.net\/2006\/06\/auditors-find-billions-in-fraud-at-agricultural-bank-leo-zhang\/\"},\"author\":{\"name\":\"Mo Ming\",\"@id\":\"https:\/\/chinadigitaltimes.net\/#\/schema\/person\/aef0bcd18439f04715fb3dd47b41f2a1\"},\"headline\":\"Auditors find billions in fraud at Agricultural Bank &#8211; 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