Runaway banker arrested for embezzlement

Updated: 2012-02-08 15:52


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JINAN - A Chinese banker who allegedly embezzled hundred millions of yuan from a bank has been arrested about a week after he fled, local police reported Wednesday.

Liu Weining, a branch head of Yantai Bank, was caught by police near a railway station in eastern city of Jinhua, Zhejiang Province, on Tuesday, police said. Liu fled Yantai city in east Shandong Province at the end of January.

Liu allegedly stole 436 million yuan ($69.76 million) worth of bank notes between April 2011 and January 2012. He reportedly had 290,000 yuan cash on him when he was caught.

Yantai Bank is a listed commercial bank that started operating in March 2009. It's assets topped 29.12 billion yuan by the end of 2010, according to the bank's website.