Subscribe free to our newsletters via your
. GPS News .




SINO DAILY
China official had cash stash of $16 million: report
by Staff Writers
Beijing (AFP) May 15, 2014


A Chinese official was found to have kept more than 100 million yuan ($16 million) in cash at his home, in the country's latest apparent corruption scandal, a report said Thursday.

Police deployed 16 money-counting machines to count the stash held by Wei Pengyuan, whose job involved approving the construction of power stations, respected financial media outlet Caixin reported.

Four of the counting machines broke down during the process, the report added. Wei is the deputy head of the coal bureau at China's National Energy Administration.

The highest value Chinese banknote is 100 yuan. That means Wei's stash contained at least a million notes, which would stack up to around 100 metres if placed in a single pile.

Authorities are investigating Wei, Caixin said.

China's ruling Communist Party has pledged to crack down on corruption as it tries to improve its image following a number of scandals involving government officials.

Several senior personnel have been ousted over alleged graft in recent years, while regular reports of low-level malfeasance are a major source of public discontent.

At the same time China has cracked down on activists who want legal reforms requiring officials to disclose their financial assets, with one such campaigner jailed for four years in January.

Relatives of top Chinese leaders including President Xi Jinping and former premier Wen Jiabao have used offshore tax havens to hide their wealth, according to a mammoth investigation released in January by the US-based International Consortium of Investigative Journalists.

In 2012, the New York Times and Bloomberg news agency published investigations into vast wealth said to have been amassed by family members of Wen and Xi. Neither official was accused of wrongdoing.

.


Related Links
China News from SinoDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








SINO DAILY
China youth suicides blamed on education system: study
Beijing (AFP) May 14, 2014
China's high-pressure, exam-driven education system is responsible for the vast majority of suicides by schoolchildren in the country, state media said Wednesday, citing a study. Official statistics on youth suicides are hard to obtain, but a health ministry journal said that about 500 primary and middle school students kill themselves every year. A study of 79 such suicides last year fo ... read more


SINO DAILY
Asian consortium lifts bid for Australian food manufacturer

Corn dwarfed by temperature dip suitable for growing in caves, mines

Winners and losers in cereal production from El Nino

Bee biodiversity boosts crop yields

SINO DAILY
A Lab in Your Pocket

Molecular Foundry Opens the Door to Better Doping of Semiconductor Nanocrystals

New lab-on-a-chip device overcomes miniaturization problems

US chip giant Intel to pump $6 bn into Israel: minister

SINO DAILY
China Southern orders 80 A320 planes: Airbus

Staying On Task in the Automated Cockpit

Malaysia PM urges aircraft changes to prevent another MH370

Sikorsky moves forward with optionally-piloted helicopters

SINO DAILY
US auto parts maker to outsource interiors to China

Google self-driving car coming around the corner

Nissan venture aims for 20% of China electric car market

Two-stroke scooters are 'super-polluters': study

SINO DAILY
Vietnam violence throws snag for US plans in Asia

China to rein supreme in world commodities in 2014: report

China evacuates 3,000 nationals from Vietnam after deadly unrest

Swiss turn down world's highest minimum wage

SINO DAILY
Emissions From Forests Influence Very First Stage of Cloud Formation

Emerald ash borers were in US long before first detection

China demand for luxury furniture 'decimating rosewood'

Super-charged tropical trees of Borneo vitally important for global carbon cycling

SINO DAILY
Earth Science Applications Travelogue: Maury Estes

GOES-R Propulsion and System Modules Delivered

Experts demonstrate versatility of Sentinel-1

Kazakhstan's First Earth Observation Satellite to Orbit

SINO DAILY
Nanoscale heat flow predictions

Harnessing Magnetic Vortices for Making Nanoscale Antennas

New method for measuring the temperature of nanoscale objects discovered

Nanomaterial Outsmarts Ions




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.