Jun 14, 2008

of china bank used donations to buy nike shoes for its workers

Bank staff in China quake zone use donations to buy runners: A branch of Industrial and Commercial Bank of China (ICBC) in quake-hit Mianyang city used quake funds to buy 56 pairs of Nike shoes for its workers.
Staff at a bank in China's quake zone used relief funds to buy themselves US brand runners, the country's audit office said Friday after probing for instances of aid money going astray.
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A branch of ICBC, the biggest bank in China, in quake-hit Mianyang city bought 56 pairs of Nike runners for its workers, the audit office said in a statement posted on its website.

The branch used 28,500 yuan (4,100 dollars) to buy the shoes at the end of May, and faked the receipts to say it had bought raincoats, rubber boots and umbrellas, the report said.
Also read more at Daily News

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