China

Ex-Bank of China exec suspected of embezzlement repatriated from U.S.

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REUTERS/Jason Lee

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BEIJING, Nov 15 (Reuters) - A former president of a domestic branch of the Bank of China (601988.SS) suspected of embezzlement has been repatriated to China after fleeing to the United States two decades ago, China's anti-graft watchdog said on Sunday.

The repatriation of Xu Guojun, former president of a BOC branch in the city of Kaiping in Guangdong province, was the result of international cooperation, the Central Commission for Discipline Inspection (CCDI) said in a statement.

Xu was suspected of corruption and embezzlment of public funds with his predecessor Xu Chaofan and successor Yu Zhendong at the BOC branch.

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Xu fled to the United States in 2001.

On Monday, the Chinese foreign ministry confirmed that Xu Guojun had been repatriated from the United States.

More than 2 billion yuan ($314 million) of funds from the case involving the three individuals have been recovered domestically and from abroad, according to the CCDI statement.

Yu Zhendong and Xu Chaofan were repatriated to China in 2004 and 2018, respectively.

($1 = 6.3787 Chinese yuan renminbi)

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Reporting by Roxanne Liu, Gabriel Crossley and Ryan Woo; Editing by Elaine Hardcastle and Angus MacSwan

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