Canton Chairman nailed

Bank president authorizes $500+m to his cronies, no doubt getting kickbacks, he (Liu Chanming) then disappears.

One of the thieves will now face a trial which no doubt will end sadly in some back gully. More of the missing funds will no doubt be used to buy more protection services from the 'authorities'.

The loans were allegedly channeled through subsidiaries of Canton Properties, which suspended trading in its shares after Wang disappeared in August 2008 and most of the company's board resigned.