$3bn of lottery funds were used inappropriately

Researchers found, that in China, for the last two years, from all the funds that have been designed for government programs and needs, has been spent over quarter.
The amount was very large, about $ 3 billion. They were spent on new offices, traveling and cars.

Prior to that, it was held by extensive audit and then these funds had already been discovered. Now the part of the total amount is restored.

Chinese YuanToday, in China, gambling is officially forbidden. There are certainly exceptions, which include lottery. According to the government investigation, between 2012 and 2014 years, the use of the lottery funds has captured over 18 regions.
Meaningful costs were in 32 lottery shops, which spent $ 500 million. These funds were allocated for the construction of hotels and training centers. There is no information about who was punished for this huge loss of money.

As Martin Patience from Beijing said, the authorities returned the money only to calm the public. In this way they regain the trust of citizens.

Since 1987, such lottery is very popular in the middle class of the country. Thereby ensure state income by 320 billion dollars.

Next year it is expected that China will overtake the US in profit lottery market. Different forms of gambling such as casinos are banned all over the continent. But such institutions, which revenue goes to charity, are legal and very popular. The President said that struggle against corruption is actively continuing.

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1 Response

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