$8 mn burglary exposes corrupt Chinese official

December 22nd, 2011 - 9:22 pm ICT by IANS  

Beijing, Dec 22 (IANS) The head of China’s largest coking coal producer has been dismissed from service after it was revealed that burglars took away items worth 50 million yuan (about $8 million) from his house.

Bai Peizhong, 48, chairman of the state-owned Shanxi Coking Coal Group has been sacked for corruption after burglars stole 50 million yuan worth of foreign cash, gold bars, expensive watches and diamonds from his home, the Shanghai Daily reported citing a media report.

Bai was allegedly robbed of six million yuan, one million HK dollars, three million euros and US $270,000 in cash, eight kg of gold, numerous luxury watches and diamonds, the paper New Express reported.

According to the police in province’s capital Taiyuan, two security guards of Bai’s residential complex who often used to help him in shifting heavy items to his apartment committed the burglary.

Bai is presently being investigated by the provincial disciplinary department.

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