Fraud case in C. China not to affect BOC operation
www.chinaview.cn 2006-06-06 03:16:26

    BEIJING, June 5 (Xinhua) -- The recently-exposed bank fraud case in Central China's Henan Province would not seriously affect the operation and fiscal situation of the Bank of China (BOC), said bank spokesman Wang Zhaowen here on Monday.

    Internal inspection by the BOC found that Wu Guofang, general manager of Zhoukou Wanyuan Beer Company in Henan, had stolen more than 100 million yuan (over 12.5 million U.S. dollars) from the BOC Shenqiu County Branch between 2004 and 2005 by fraudulent means and with the assistance of some bank employees.

    While taking quick action to maintain the value of assets, the BOC has made full preparations for possible asset loss, said the spokesman.

    As the Shenqiu case is still going through judicial procedures, the BOC can't disclose case details as it is against the law, Wang explained.

    He noted that in April this year, the BOC had already disclosed 52 fraud cases involving the bank, 46 of which were self-detected by the BOC and 44 were historical cases. Enditem

Editor: Luan Shanglin
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