Financial criminals are living abroad

Wednesday 29 December 2010 01:00

Nearly 600 fugitives involved in economic crimes have fled China and are hiding in other countries, a security official has said.

China's rapid economic growth has been accompanied by an alarming increase in fraud and embezzlement, with almost daily reports of officials stealing millions of dollars from government offices or companies.

At least 580 fugitives accused of illegal fundraising, bank loan fraud, illegally transferring funds abroad and contract fraud are hiding out in other countries, said the official.

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