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Former Bank of China Employees Sentenced in Laundering Case
printA U.S. federal district judge Wednesday sentenced two former Bank of China managers and their wives to prison for stealing and laundering more than $485 million. The central district of Nevada convicted Xu Chaofan and Xu Guojun, and their wives Kuang Wan Fang and Yu Ying Yi, in August of money laundering, racketeering, transporting stolen property and mail and visa fraud. Prosecutors said that the two men worked with a third former Bank of China manager, Yu Zhendgong, in an elaborate scheme to defraud the central bank. On Wednesday, U.S. District Judge Philip Pro sentenced Xu Chaofan to 25 years...
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