Chinese state refinery executive hid stolen gold in dusty car

Ming Pao says in an exclusive report that Song Wendai, former chairman of state-owned Qiankun Gold and Silver Refinery Joint Stock Company in Inner Mongolia, was suspected of stealing 60 kg of gold, 1400 kg of silver and tens of millions of yuan from the refinery. Forty detectives spent more than a year to crack the case and arrest the alleged gold thief.

A report by xinhuanet.com says that Qiankun Company is an enterprise assigned by the central bank for refining gold and silver. In about 10 years while Song was in charge of the company, there had been incessant reports and prosecutions, but even the prosecutor was surprised that Song was a corrupt official that had not been caught in a hundred investigations.

In order to facilitate his graft, Song wilfully made a mess of the company’s management, and did not take stock for many years. It is difficult to prevent insider theft despite the company being watched day and night by armed police. Song even told his trusted followers to keep on bringing gold and silver to his home.

When Song was arrested, he was busy in preparing the opening of his own jewellery, store to sell the gold and silver he had stolen. He hid the gold in a place so secret that almost no one could discover it. It was stored in the trunk of a car parked in an underground car park in a small residential area in Beijing. He left the car to be covered with thick dust, to show that it had not been used for a long time.



Categories: Crime & Corruption

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  1. June 8 2012 China Daily Mail Headlines « Craig Hill
  2. China silver demand to climb to record « China Daily Mail

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