On February 25, 2021, the Intermediate People's Court of Jiangmen City, Guangdong Province held a public hearing in the first instance of the case of embezzlement and embezzlement of public funds by Xu Chaofan, the former president of Kaiping Sub-branch of Bank of China Guangdong Branch.
Xu Chaofan fled to the United States in 2001.
In July 2018, with the cooperation of law enforcement agencies in China and the United States, Xu Chaofan, who had fled for 17 years, was forcibly repatriated to his country.
The People’s Procuratorate of Jiangmen City accused: Since 1993, Xu Chaofan has taken advantage of his position as the head of the Kaiping branch of Bank of China and the head of the corporate business department of the Guangdong branch of Bank of China. Bank funds, embezzlement of the company's normal loan repayment funds or direct transfers, embezzled more than 622 million US dollars, more than 129 million Hong Kong dollars, embezzled more than 356 million yuan, 20 million Hong Kong dollars, and more than 124 million US dollars.
During the trial, the procuratorial organ produced relevant evidence. The defendant Xu Chaofan and his defender cross-examined the evidence. Both the prosecution and the defense fully expressed their opinions. Xu Chaofan made a final statement and pleaded guilty and repented in court.
More than 20 people from Xu Chaofan's close relatives, NPC deputies, CPPCC members, journalists and people from all walks of life attended the trial.
The court in this case will select a date to pronounce the verdict.
(CCTV reporter Xi Danni Zhang Sai)