News Summary: Banker Accused Of China Land Fraud

By The Associated Press

ARRESTED: A bank officer from a poor region in rural China was arrested Monday on suspicion of forging official documents in a campaign that amassed her a real estate empire worth at least $160 million.

THE ACCUSATIONS: Gong Ai'ai is accused of acquiring 45 properties in three cities by misusing her power while working for the county-backed Shenmu Rural Commercial Bank to give loans to mine operators in the area in return for cash or shares in the mines.

FAKE ID: Gong is accused of using that money and at least three fake national identity cards obtained with help of corrupt police to fund her real estate purchases.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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