Weekly Roundup: Chinese Officials Said to Loot $124 Billion, Asheville Banker Pleads Guilty to Laundering, and More

Chinese officials smuggled nearly $124 billion in illicit funds out of the country between the mid-1990s and 2008, according to a report published by the anti-money laundering (AML) bureau of China's central bank and featured in a story by the Financial Times. Approximately 17,000 corrupt officials, including judicial officers and corporate executives, took the funds when fleeing China, the news agency said Thursday, citing the report. Many of the higher-ranking former officials moved to the United States, Canada, Australia and the Netherlands. More Corruption in the United Kingdom is worse than publicly thought, according to a report published by Transparency...