Date
18 November 2017

Thief drains 100 mln yuan from Jiugui Liquor unit, filing says

An unknown embezzler siphoned off 100 million yuan (US$16.53 million) from a bank account of distiller Jiugui Liquor Co. Ltd. (000799.CN), all but clearing out the account, the company said in a regulatory filing Monday. Jiugui Liquor said its distribution arm found in December that the money — equivalent to nine months of income for the unit — had been taken from its account at the Hangzhou branch of Agricultural Bank of China Ltd. (01288.HK, 601288.CN). Just 1,176.03 yuan was left in the account after the theft. The company reported the loss to police, the filing said.

– Contact HKEJ [email protected]

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