�Billions of China�s lottery funds misused�

AFP, BEIJING: Nearly $3 billion generated from China’s state lotteries—a quarter of the funds they raised in recent years—have been “misappropriated” through embezzlement and other abuses such as buying
cars, state-run media said yesterday.
A total of 16.9 billion yuan ($2.7 billion) raised by lotteries was used illegally, the government-published China Daily said, citing official auditors.
Gambling is illegal in China except where it is run by the government or the proceeds donated to charity, and official lotteries—which sometimes also offer sports betting—are popular.
At the same time corruption is widespread, with the Communist party attempting to assuage public anger with a heavily publicised crackdown.
The lottery funds—representing a quarter of revenues from 2012 to 2014 -- were misused “through the purchase and establishment of office buildings, or has been embezzled”, the report said.

 

�Billions of China�s lottery funds misused�

AFP, BEIJING: Nearly $3 billion generated from Chinas state lotteriesa quarter of the funds they raised in recent yearshave been misappropriated through embezzlement and other abuses such as buying cars, state-run media said yesterday. A total of 16.9 billion yuan ($2.7 billion) raised by lotteries was used illegally, the government-published China Daily said, citing official auditors. Gambling is illegal in China except where it is run by the government or the proceeds donated to charity, and official lotterieswhich sometimes also offer sports bettingare popular. At the same time corruption is widespread, with the Communist party attempting to assuage public anger with a heavily publicised crackdown. The lottery fundsrepresenting a quarter of revenues from 2012 to 2014 -- were misused through the purchase and establishment of office buildings, or has been embezzled, the report said.