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Morning Star :: Official’s 200m yuan cash hoard seized

Official’s 200m yuan cash hoard seized


Oct 2014
Friday 31st
posted by Morning Star in World

Wei Pengyuan hoarded largest-ever cache-find


Senior prosecutor Xu Jinhui disclosed today that investigators have found more than 200 million yuan (£20.6m) in cash at the home of energy official Wei Pengyuan.

It is the country's largest cash seizure ever, said Mr Xu.

Mr Wei, the deputy head of the coal bureau under the National Energy Administration, is under investigation for alleged corruption.

The National Energy Administration is part of the National Development and Reform Commission that sets broad policies for China's economy.

Mr Xu said that 11 commission employees are under investigation for corruption, with six suspected of having each received millions in bribes.

"They not only drafted macroeconomic policies but also had the authority to approve projects," he said.

"They directly controlled the interests of many companies. They were prone to corruption because their favours were highly sought after."

He also blamed a lack of supervision in the commission, saying that taking bribes had become common practice of many employees.

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