Director arrested in bank scam

A bank manager in the eastern Anhui province has been arrested for allegedly forging stamps, illegally operating financial businesses and trading bank credits, officials said yesterday.

Li Qun, manager of the Tengda office of Agriculture Bank of China's (ABC) Fuyang branch, surrendered to police early this month for failing to repay 165 million yuan ($22 million) "illegally raised" from the public.

That is more than the 100 million yuan earlier reported, according to Xinhua News Agency. A director of the branch, Xu Lin, was also sacked on Monday after Li's surrender, according to China News Radio.