Society

Official executed for embezzling public funds

(CRIENGLISH.com)
Updated: 2010-03-26 14:31

Official executed for embezzling public funds
Li Shubiao (center), former director with the administration of government subsidy for housing in Chenzhou, central China's Hunan province, is escorted by police in this undated photo. [File Photo: Guangzhou Daily]

An official with the administration of government subsidy for housing was executed on Thursday morning for corruption and embezzlement, in central China's Hunan province.

Li Shubiao, 46, was the former director with the office in Chenzhou city. He was found having embezzled public funds amounting at 120 million yuan (18 million US dollars) during his tenure, most of which have been invested in profitable deals or squandered in gambling.

Dubbed as the country's top case of embezzling government subsidy for housing, it has got much attention from the public for its involvement of the mass amount of money and the large number of officials, including Li Dalun, the then Secretary of the Chenzhou City Committee of the Communist Party of China.

Guangzhou Daily reports that Li often traveled to Macao for gambling with the public fund before his detention in 2005.

Li revealed that he spent about 100 million yuan in Macao, "At first, I won more than 10 million yuan. I thought gambling will bring me more money, but I was wrong."

Li was also confiscated of all his personal property.