US repatriates former BOC branch president suspected in embezzlement to China

In a statement China’s anti-graft watchdog said, a former president of a domestic branch of Bank of China who is a suspect in an embezzlement, has been repatriated to China after fleeing to the U.S..

In a statement China’s Central Commission for Discipline Inspection (CCDI) said, “the repatriation of Xu Guojun, former president at BOC’s branch in the southern Kaiping city of Guangdong province, was the result of an international cooperation.”

Xu was suspected for embezzlement with another two former presidents of the Kaiping branch of BOC; he fled to the US in 2001.

According to the CCDI’s statement, Chinese authorities along with the BOC, have recovered more than $314 million (2 billion yuan) from the case, which involves three individuals,

The two other former executives, Yu Zhendong and Xu Chaofan, were repatriated to China in 2004 and 2018, respectively.

($1 = 6.3787 Chinese yuan renminbi)

Categories: Creativity, Entrepreneurship, HR & Organization, Strategy

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