US Hands Over Criminal Suspect to China Ahead of US-China Summit

Suspect in Embezzlement at China's Largest Bank Repatriated After 20 Years
US Previously Extradited Criminal Ahead of 2015 Summit

[Asia Economy Beijing=Special Correspondent Jo Young-shin] Xu Guojun, former deputy branch manager of the Bank of China Guangdong Branch, who is accused of the largest bank fund embezzlement in Chinese history, has been repatriated to China. It has been 20 years since he fled to the United States in 2001.

Particularly, with the US-China summit approaching, the extradition of a Chinese criminal by the United States to the Chinese government has drawn attention to the background of this case.

Photo by China Pengpai Capture

According to Chinese media such as Pengpai on the 15th, in 2001, former deputy branch manager Xu, in collusion with former Bank of China Guangdong Branch manager Xu Qiaopan and others, is accused of illegally transferring a large amount of funds borrowed from bank accounts. It is known that the amount embezzled by them at that time reached as much as 485 million dollars. This case was also recorded as the largest bank fund theft case since the founding of the People's Republic of China in 1949.

There are three suspects in this case. Xu, known as the main culprit, fled to the United States in October 2001 and was arrested by US judicial authorities in 2003. The US court sentenced former branch manager Xu to 25 years in prison in 2009 on charges of fraud and money laundering. Xu was repatriated to China in 2018 and punished according to Chinese law.

Before Xu, Guangdong Branch former branch manager Wei Qiandong was caught in the United States and forcibly repatriated to China in 2004.

Xu, the former deputy branch manager, who was repatriated after 20 years of evasion, is also accused of the same charges as former branch manager Xu. He was also arrested in the United States and sentenced to 22 years in prison.

Chinese media emphasized that former branch manager Xu strongly resisted repatriation to China and that China pursues fugitives to the end and brings them to justice.

Meanwhile, in 2015, the United States forcibly repatriated a Chinese corruption fugitive to China ahead of the US-China summit. At that time, China received the custody of Kuang Wan-fang, who was serving an 8-year prison sentence in the United States. Kuang is the wife of former branch manager Xu.

This content was produced with the assistance of AI translation services.