Another inside job at IPO-bound BOC

The Bank of China, now preparing for an offshore listing, revealed it was investigating a RMB600m mortgage fraud dating from 2002 at its main branch in Beijing, allegedly involving Hong Kong developer Beijing Huayunda using fake identifies to procure mortgages through a confederate, Xu Weilian, then deputy director of the bank's retail unit who is accused of accepting an RMB8m "gift" for his role in arranging loans against units in the still uncompleted Senhao Apartment development in east Beijing's Chaoyangmen district.