Caijing, China's popular business magazine, reported that Heilongjiang's state pension fund was found short RMB800mn (US$96.4m) , reportedly the result of embezzlement at a sub-branch of Bank of China (BOC) in the northeastern province's capital, Harbin. The theft included, besides individual pension contributions, RMB180m deposited by the Heilongjiang Provincial Social Security Fund Administration. The main suspect in the fraud is Gao Shan, the sub-branch manager, who reportedly began stealing in 2000, allegedly wiring RMB200m before fleeing to Canada recently.
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