February 22, 2011

Chinese Official Embezzles $14M to Fuel Gambling Habit, Flees to Canada

SHANGHAI, CHINA - He setup his own travel agency to make it easy for him to travel to Macau and allegedly enjoy his addiction -- gambling. Then he ran away after embezzling state funds.
 
A low-ranking Chinese official fled the mainland with his family and is reportedly in hiding in Canada, according to a report from AFP.
 
Li Huabo, a section director at a provincial finance bureau in Jiangxi province was reported to have fled to Canada with his wife and two daughters earlier this month and authorities determined he had been embezzling provincial funds meant for civic projects. State media reported Li had stolen over US$ 14 million over four years.
 
Authorities learned that he stole money meant for upgrading of farmlands and the building of reservoirs in the province allegedly to finance his gambling addiction. It was further found out that Li had setup his own travel agency to facilitate his travels to China's gambling Mecca.
 
A letter addressed to an office accomplice was retrieved by officials detailing how Li had stolen money over the past four years.
 
Police are now trying to track down Li and his family in Canada.
 
 
Source: AFP
Posted: February 22, 2011
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