Foundation accountant sentenced to death
(chinadaily.com.cn)
Updated: 2004-11-09 16:41

Bian Zhong, an accountant with the National Natural Science Foundation of China, was sentenced to death on probation for embezzlement by the Beijing No 1 Intermediate People's Court Tuesday.

Bian Zhong, a 41-year-old accountant with the public fund management department at the natural science foundation, was accused of embezzling 222.6 million yuan (US$27 million). The case reported involves the largest monetary amount to be dealt with by the Beijing Municipal People's Procuratorate in recent years.

The foundation is an organization directly affiliated to the State Council for the management of the National Natural Science Fund.

Wu Feng, 40-year-old vice-director of the public fund management department, was sentected to eight years in prison for dereliction of duties.

According to the indictment by the procuratorate, Bian transferred public funds of 12.6 million yuan (US$1.5 million)to the accounts of several companies.

"Bian achieved this through forging banking documents in the name of paying bills to organizations that applied for money from the National Natural Science Foundation, between 1999 and 2002," Cheng Jin, the public prosecutor said.

Earlier, before the accused illegal fund transfers during 1995-98, the two defendants lent public funds of 10 million yuan (US$1.2 million) to a Guangzhou-based trading company in order to make profits, the indictment said.

From April to December in 2002, Bian transferred funds of 105.5 million yuan (US$12.8 million) to two Beijing-based companies for profit by falsifying bank documents, according to the prosecutor.

Bian was also accused of transferring 77.3 million yuan (US$9.3 million) to a Beijing-based company during March to November of 2002.

Bian allegedly moved public funds of 17.1 million yuan (US$2 million) to a Beijing-based company in January of last year shortly before he was arrested.

There are still 4.3 million yuan (US$510,000) in funds that are missing, believed to have been embezzled by Bian.

Bian admitted to the charges in the indictment by the procuratorate in court.

But Bian said he did not use much of the public funds embezzled since most of the money remains in the accounts of other individuals.

Bian was arrested by police last February. Wu was taken into custody two months later.

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