China's ex-banker found with 44 properties, jailed

Posted By: IANS
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Ex-banker with 44 properties jailed
Beijing, Sept 29: A former Chinese banker was Sunday sentenced to three years in prison for forging and trading official documents, and possessing 44 properties in Beijing.

Gong Aiai, mocked by Chinese netizens as "Sister House", was found with a huge number of properties purchased under fake IDs, and was convicted at the People's Court of Jingbian county, reported Xinhua.

The total property was valued at around 395 million yuan

Gong, former deputy head of the Shenmu county rural commercial bank in Yulin city, was found to have illegally purchased Beijing hukou (household registration) for her daughter and herself at a cost of 300,000 yuan ($48,000) in 2005, in order to buy houses in the capital.

In January, online whistleblowers revealed that Gong had more than 20 properties in Beijing worth an estimated one billion yuan.

A police investigation found that Gong under four IDs possessed 44 Beijing properties with total floor space of 10,543 square metres. The total property was valued at around 395 million yuan.

Gong previously said in court that she earned money mainly through coal business and had borrowed money from friends. She claimed that all her possessions were gained through legal means.

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