jk
11-24-06, 07:11 PM
http://www.nytimes.com/2006/11/24/business/worldbusiness/24cnd-pension.html?ex=1322024400&en=1ce4e67c7858aff7&ei=5089&partner=rssyahoo&emc=rss
Audit Finds Massive Fraud in China’s Social Security Fund
By DAVID BARBOZA (http://topics.nytimes.com/top/reference/timestopics/people/b/david_barboza/index.html?inline=nyt-per)
Published: November 24, 2006
<nyt_text> </nyt_text>SHANGHAI, Nov. 24 — China said today more than $900 million was misappropriated from the nation’s $37 billion social security fund in the latest
massive government fraud to be uncovered.
The government did not announce any arrests or even lay blame for the wrongdoing, but it said an audit revealed that most of the money had
been siphoned off for foreign investments, building projects and commercial loans.
Audit Finds Massive Fraud in China’s Social Security Fund
By DAVID BARBOZA (http://topics.nytimes.com/top/reference/timestopics/people/b/david_barboza/index.html?inline=nyt-per)
Published: November 24, 2006
<nyt_text> </nyt_text>SHANGHAI, Nov. 24 — China said today more than $900 million was misappropriated from the nation’s $37 billion social security fund in the latest
massive government fraud to be uncovered.
The government did not announce any arrests or even lay blame for the wrongdoing, but it said an audit revealed that most of the money had
been siphoned off for foreign investments, building projects and commercial loans.