News Summary: Banker accused of China land fraud

China arrests bank officer accused of amassing vast property holdings under fake identities

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.

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