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The police bureau in Huicheng District, Huizhou City solved the disappearance of more than 21.7 million yuan (US$2.62 million) which was embezzled for gambling.
A suspect, Wang Mouzong, an employee in charge of the financial affairs of the company involved has been arrested.
On the morning of Jan. 13, the company called police claiming their employee Wang might have had something to do with the financial woes of the company. After investigations, police found that Wang had withdrawn enormous sums of money from the company's accounts by transferring funds, faking bank statements and other means since July 2004, when he took over the post. Police also found that a total of more than 21.7 million yuan had been embezzled and spent on gambling by Wang.
Wang allegedly confessed, saying that at first he withdrew amounts in the thousands at one time, but his gambling habit grew so quickly that he once took several million yuan at one time. He gambled all through the night
Police are still investigating the case and trying to retrieve the losses.
(Shenzhen Daily February 1, 2005)
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