The Agricultural Bank of China was penalized $215 million Friday after it "silenced and severely curtailed the independence" of its New York branch's chief compliance officer who tried to expose and stop suspicious transactions at the bank.
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China’s National Audit Office (NAO) has found massive financial irregularities ranging from theft of state assets to dodgy tender deals in more than a dozen state-owned firms, according to the agency’s annual audit report.
Liang Daoxing, former vice mayor of Shenzhen, was expelled from the Communist Party for corruption. The investigation into Liang’s case was launched in late 2012. Liang was in charge of organizing the 2011 World University Games. Several other officials have reportedly been placed under investigation in connection with the Games. http://news.xinhuanet.com