Court orders properties of fugitive be confiscated

The Hohhot Intermediate People's Court in the Inner Mongolia autonomous region on Tuesday ordered that the illegal gains of Bai Jing, a fugitive on the Red Notice list, be confiscated.

The court found that Bai made use of his positions of deputy director and director of the Investment Business Department of Agricultural Bank of China from 2008 to 2011 to manipulate bond transactions with others and transfer State-owned funds to companies under his control, making illegal profits totaling over 200 million yuan ($30.5 million).

Bai then used about 160 million yuan to buy real estate in Beijing and Sanya, Hainan province, registered under the names of his relatives. Bai fled to Canada in July 2013 and remains at large.

Due to the fact that Bai has been wanted for more than one year and failed to appear in court, prosecutors applied to confiscate nine properties that were bought with Bai's illegal gains, worth 140 million yuan.