China's AgBank may lose $578 mln through suspected bill fraud - Caixin

The Agricultural Bank of China Ltd (AgBank) may lose 3.8 billion yuan ($578 million) from a bills of exchange scam allegedly carried out by two employees, the influential financial publication Caixin reported. The report, quoting unnamed sources, said the employees had illegally sold the bills of exchange to an unnamed third-party, and then used the proceeds to invest in the stock market, which has slumped since the middle of last year. The report said the employees, who worked at a Beijing bran