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Chen Case Sheds Light On China's Money Laundering Problem

Thursday, Oct. 5, 2006

HONG KONG -- The arrest of the most high-profile public figure in China in a decade may be a shocking example of endemic corruption in the world's biggest out-of-control economy, but the question on the lips of some financial investigators in the West is: Will the trail of Chen Liangyu's ill-gotten loot lead to the United States?

The shadow economy in China, a combination of embezzlement, bribery, tax avoidance and underground banking of both legal and illegal money, is huge, and growing. ...

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