GUANGZHOU, May 17 (Xinhua) -- Xu Guojun, former chief of Bank of China (BOC) Kaiping sub-branch, stood trial over embezzlement and the misappropriation of public funds, at the Intermediate People's Court of Jiangmen in south China's Guangdong Province on Wednesday.
Between 1993 and 2000, Xu allegedly took advantage of his positions at the Kaiping sub-branch of the BOC in Guangdong, and conspired with others to embezzle over 62.2 million U.S. dollars, over 363 million HK dollars (about 46.35 million U.S. dollars) and over 1.46 million Deutsche marks worth of public funds.
Xu and others also misappropriated over 355 million yuan (about 50.9 million U.S. dollars), 20 million HK dollars and over 126 million U.S. dollars worth of public funds, according to prosecutors.
Xu fled to the United States in 2001 and was repatriated to China in November 2021.
At the court, prosecutors presented their evidence, which the defendant and his lawyers then cross-examined.
In his final statement, Xu pleaded guilty and expressed remorse.
The verdict will be announced in due course. ■
