China’s AgBank may lose $578 mln through suspected bill fraud – Caixin

SHANGHAI, Jan 22 (Reuters) – The Agricultural Bank of ChinaLtd (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 employ