Entries in Embezzled (1)


Auditors in China Uncover 'Embezzled' Millions for High-Speed Rail

STR/AFP/Getty Images(BEIJIING) -- State auditors in China found $28.5 million intended to fund the development of a high-speed railway between Beijing and Shanghai to be stolen by construction companies and other individuals, reports the BBC.

The project, which began in 2008, is due to be completed in June 2011 -- one year ahead of the projected finish date.

Officials said Wednesday that irregularities had been detected over a three-month period of the rail's construction in 2010, according to the Financial Times

This kind of corruption is not uncommon to China's railway industry.  Just last month, the country's railway minister was dismissed in connection with corruption claims.

The state audit office has handed the case over to the Chinese judicial system for a formal investigation.

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