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Bank clerk's business goes bad

A BANK clerk in Anhui's Fuyang city ran her own illegal bank from the branch she was employed in and took at least 100 million yuan (US$14.6 million) from local officials and civil servants.

Li Qun's illegal business involved trading bank instruments, forging bank seals and offering private financial services, Shanghai Morning Post reported today.

Li surrendered to police on May 1 after she failed to return money she had borrowed or pay the interest she had promised. She apparently had been offering loans privately since 1989.

She has given police six USB storage devices with the relevant data and a letter of confession.

However, police have no idea where the 100 million yuan has gone.

Li's superior at the bank, Xu Ling, the director of the Fuyang branch of Agricultural Bank of China, was sacked yesterday, said Liu Shu, the bank's discipline inspection official in Anhui Province.

The bank's Anhui authority said Xu should be held responsible for her lack of supervision. Li had sent Xu a confession.

Most of Li's family members were officials, and this helped Li win trust among her clients.

Sun Zhigang, an employee of the state-owned Anhui Pharmacy Group, and his sister lent Li 23 million yuan, while Zhang Guoqin, an official in Fuyang's radio and television administration, is holding 40 million yuan in Li's IOUs.

Some debtors declined to be interviewed or explain the source of their income. Police say 28 debtors have registered in the case.






 

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