Police in China catch pair suspected of €4.9m bank theft

Chinese police have arrested two men suspected of stealing almost 51 million yuan (£3.3 million) from the bank where they worked as cashiers, state media said today.

Chinese police have arrested two men suspected of stealing almost 51 million yuan (€4.9m) from the bank where they worked as cashiers, state media said today.

Authorities had placed Ren Xiaofeng, 34 and Ma Xiangjing, 37, on China’s most-wanted list after the April 14 theft at the Agricultural Bank of China’s Handan city branch in the northern province of Hebei, the Xinhua News Agency said.

“Police have recovered some of the missing funds and are questioning the men,” the report quoted Ministry of Public Security spokesman Wu Heping as saying.

“This huge loss of funds has exposed major loopholes in crime prevention, especially regarding financial institutions,” Wu said.

“As the investigation continues, we will learn how the suspects succeeded and we will try to mend the holes in our system.” Police arrested Ren at a rented house in the city of Liangyungang in the eastern Jiangsu province this morning after apprehending Ma in Beijing yesterday, Xinhua said.