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China Lottery $2.72 billion widespread misuse

Saturday June 27,2015 : CHINA LOTTERY MISAPPROPRIATION REPORTED
 
Corrupt officials blamed for US$2.72 billion widespread misuse.
 
At least some of the RMB 64 billion in funds that China's Academy of Social Sciences claimed earlier this week was unaccounted for  has been found; according to a Reuters report released Thursday RMB 16.9 billion (about US$2.72 billion) was misused or misappropriated.
 
The government's National Audit Office claims that it has uncovered widespread misappropriation of the funds from its state lottery programme, illustrating the extent of official corruption as the government ramps up its efforts to combat official graft.
 
Auditors found that funds were misappropriated through ruses such as the buying and building of office buildings and hotels, or were just plain embezzled, according to a report on the NAO website.
 
The report claims that irregularities accounted for a quarter of the total of lottery funds received in its 2012-2014 investigation that spanned 18 Chinese provinces.
 
It is alleged that 17 provinces had flouted the law in engaging in lottery sales through the Internet without approval from the Ministry of Finance....a practice the central government cracked down on earlier this year by requiring provinces to suspend internet sales until a proper audit and review has been completed
 
The review order comes as President Xi Jinping's government fights corruption, and has warned that the problem is so critical that it could affect the ruling Communist Party's future.
 
Reuters reports that in one case, 32 lottery shops had used 3.1 billion yuan to construct office buildings, training centres and hotels.
 
China's lottery market has boomed in recent years, with experts predicting that it will overtake the United States as the world's biggest lottery market in 2015.
 
Lottery proceeds after prizes are supposed to be used for social, sports and community development.



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Tim Chung Wins MPNPT Manchester - The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.

MPNPT Manchester Day 2 - Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.

Day 1B MPN Poker Tour Manchester - Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.

Day 1A MPNPT Manchester - The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days

Kung Fu Rooster Slot Goes Live - Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.

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3 New Betsoft Slots - 3 new Betsoft slot Games were also added this week to most online casinos allowing US players.

2017 Bodog Super Millions Poker Open - The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.

Pokerstars Pulls Out Of Coloumbia - Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.

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