The former president of the Bank of China Kaiping Sub -branch Xu Guojun corrupted and misappropriated the public funds on Wednesday (May 17) in the first trial.
According to the China News Agency, the Jiangmen Intermediate People's Court of Guangdong Province opened the court on Wednesday first instance and tried the corruption and misappropriation of public funds.
The People's Procuratorate of Jiangmen City accused that from 1993 to 2000, the defendant Xu Guojun used as the director, vice president, and president of the Office of the Kaiping Branch of the Bank of China., Adopt a false loan set to withdraw bank funds, occupy the company's normal loan funds or direct transfer of funds, or corrupt public funds of more than 62.2173 million yuan (about S $ 83.5 million), Hong Kong dollars of more than 363 million yuan (about S $ 62 million), andGermany Mark 1.461 million yuan (about S $ 1.09 million), misappropriated more than 355 million yuan (about S $ 68 million), HK $ 20 million (about 3.43 million yuan), USD 126 million (about 169 million yuan (about 169 millionNew Yuan).
Xu Guojun was one of the three main criminals of the Bank of China Kaiping Branch 20 years ago and fled outside the United States in 2001.The Bank of China Kaiping Branch is known as the "New China's largest bank fund theft."
In November 2021, Xu Guojun, who had been out for 20 years, was forcibly repatriated from the United States.
