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China reveals misuse of $2.7 billion in lottery funds

InternationalInternational: China reveals misuse of $2.7 billion in lottery funds
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BEIJING — China has uncovered widespread misappropriation of 16.9 billion yuan (US$2.72 billion) of funds from its state lottery program, underscoring the extent of official corruption as the country tries to root out graft.

Funds were misappropriated through the buying and building of office buildings and hotels or embezzled, the National Audit Office said in a report on its website.

The state auditor said the irregularities accounted for a quarter of the total of lottery funds received in its 2012-2014 investigation that spanned 18 provinces.

It said 17 provinces had flouted the law in engaging in lottery sales through the Internet without approval from the Ministry of Finance.

In another case, 32 lottery shops had used 3.1 billion yuan to construct office buildings, training centers and hotels, the report said.

Spurred by rising disposable income, a strong appetite for gambling and more sophisticated games, China's lottery market has boomed with customers splurging billions of dollars. China is expected to overtake the United States as the world's biggest lottery market this year.

The government has so far contained casino gambling to Macau, in part because of social concerns. Experts say officials consider the lottery system more sanitized, with fewer negative effects on citizens.

The review comes as President Xi Jinping's government has waged a fight against corruption, warning that the problem is so bad it could affect the Communist Party's grip on power.

Lottery products are typically sold through authorized stations throughout the country in the form of physical tickets. These range from dedicated lottery stores to counters in supermarkets, post offices and gas stations.

Unlike the United States and Europe, where prizes can climb into the hundreds of millions of dollars, China caps jackpots at 10 million yuan. Tickets sell for 2 yuan to 200 yuan, with proceeds supporting sports and welfare charities.

($1 = 6.2 yuan)

Reuters

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26 comments. Last comment 1 year ago by mikeintexas.
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RJOh's avatar - chipmunk
mid-Ohio
United States
Member #9
March 24, 2001
19816 Posts
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Posted: June 25, 2015, 8:51 am - IP Logged

This could be serious since China doesn't believe in second chances for crooks.

 * you don't need to buy more tickets, just buy a winning ticket * 
   
             Evil Looking       

    pickone4me's avatar - 021414tvlies zpsa453b327.jpg
    Wisconsin
    United States
    Member #104962
    January 23, 2011
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    Posted: June 25, 2015, 9:49 am - IP Logged

    Imagine that, communists are crooks.

     

    Edit:  I wanted to point this out:

    Spurred by rising disposable income, a strong appetite for gambling and more sophisticated games, China's lottery market has boomed with customers splurging billions of dollars. China is expected to overtake the United States as the world's biggest lottery market this year. I think they meant china was going to over take the united states economy

    Trump 2016!

      noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
      Bay Area - California
      United States
      Member #136477
      December 12, 2012
      4102 Posts
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      Posted: June 25, 2015, 10:19 am - IP Logged

      What is this you ask?.. This Sir is a Chinese Mobile Execution Vehicle. Need l say more?

       

      Responding to criticism that China cruelly and arbitrarily executes a large number of its citizens each year, officials are gradually moving toward what they say is a more discreet way of killing its prisoners: execution vans.

      People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.

        pickone4me's avatar - 021414tvlies zpsa453b327.jpg
        Wisconsin
        United States
        Member #104962
        January 23, 2011
        1075 Posts
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        Posted: June 25, 2015, 11:15 am - IP Logged

        What is this you ask?.. This Sir is a Chinese Mobile Execution Vehicle. Need l say more?

         

        Responding to criticism that China cruelly and arbitrarily executes a large number of its citizens each year, officials are gradually moving toward what they say is a more discreet way of killing its prisoners: execution vans.

        I heard they had those in china.  If people think it isn't real, go here http://www.dailymail.co.uk/news/article-1165416/Chinas-hi-tech-death-van-criminals-executed-organs-sold-black-market.html

        Trump 2016!

          noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
          Bay Area - California
          United States
          Member #136477
          December 12, 2012
          4102 Posts
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          Posted: June 25, 2015, 11:36 am - IP Logged

          My reason for posting the picture of the vehicle Pick is that China executes people for corruption, bribery etc.Corrupt Political figures have been strapped to the gurney inside these units. I am convinced that these vehicles will be rolling once the culprits associated with this story are identified...

          People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.

            music*'s avatar - nw bookeep.jpg
            Happy California
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            August 2, 2014
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            Posted: June 25, 2015, 12:24 pm - IP Logged

            Shocked I am thankful for being American and playing the Lottery in the good old USA.  I know we have complaints about our systems and we get to air those aloud and online.  When a player tries to outsmart the lottery here they are caught and punished. Of course the bad news make the headlines while ordinary winners go on about their lives.

             I've been rich and I've been poor. Believe me, rich is better. 

             Attributed to Joe E. Lewis and others

              mikeintexas's avatar - tx avatar-1.gif
              Texas Panhandle
              United States
              Member #136843
              December 20, 2012
              1259 Posts
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              Posted: June 25, 2015, 3:05 pm - IP Logged

              Shocked I am thankful for being American and playing the Lottery in the good old USA.  I know we have complaints about our systems and we get to air those aloud and online.  When a player tries to outsmart the lottery here they are caught and punished. Of course the bad news make the headlines while ordinary winners go on about their lives.

              I Agree! We have our fair share of problems, but they pale in comparison to China and many other countries.

              Americans have concerns about how our meat animals are raised, what with all the antibiotics and hormones, but I'd rather eat U.S. feed lot beef than I would a tilapia from China.  (you'd have to hold a gun on me to eat just about ANY fish /seafood from Asia...and I think I'd rather just have you shoot me, preferring to die a quick death than a long and slow drawn-out one)  Then there's this recent news story:

              China arrests smugglers trying to sell frozen meat from the 1970s


              A people that elect corrupt politicians, impostors, thieves and traitors are not victims...but accomplices.
               - George Orwell

                mypiemaster's avatar - 2015021003pileofcash
                JACKPOT HUNTER

                United States
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                April 2, 2013
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                Posted: June 25, 2015, 4:59 pm - IP Logged

                If you think China is strict, try the Islamic State or "our so-called friend" Saudi Arabia.

                Seek and ye shall find -Matt. 7:7 ...Ask and ye shall receive -John 16:24 ...Give and it shall be given unto you -Luke 6:38 ...Be careful what you ask for!!! -Mypiemaster 1:1

                Having Money Solves Problems That Not Having Money Creates Yes Nod ****John Carlton****

                  Avatar

                  United States
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                  December 9, 2013
                  643 Posts
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                  Posted: June 25, 2015, 5:05 pm - IP Logged

                  If you think China is strict, try the Islamic State or "our so-called friend" Saudi Arabia.

                  That pile of money in your picture is why Saudi Arabia is, always was, and forever will be our friend... the oil interest will always outweigh  in interest of individual American citizens period

                    Gleno's avatar - Lottery-001.jpg
                    New Jersey
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                    September 25, 2009
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                    Posted: June 25, 2015, 6:02 pm - IP Logged

                    What? Who knew China even had a lottery ?

                    Is anyone surprised that funds would be misappropriated?

                    Eek

                      mikeintexas's avatar - tx avatar-1.gif
                      Texas Panhandle
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                      Member #136843
                      December 20, 2012
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                      Posted: June 25, 2015, 6:14 pm - IP Logged

                      That pile of money in your picture is why Saudi Arabia is, always was, and forever will be our friend... the oil interest will always outweigh  in interest of individual American citizens period

                      The U.S. supplies 40% (and that percentage has been increasing, thanks to the relatively harmless practice of hydraulic fracturing) of its own petroleum needs and we get more from either Canada and Latin America than we do the Middle East;  we get more oil from Nigeria (10%) than we do Saudi Arabia (8%).

                        itpmguru's avatar - 42a4d4d8f2a4312fb8e253dd8f6ef251
                        No Man's Land
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                        Member #164139
                        February 19, 2015
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                        Posted: June 25, 2015, 6:36 pm - IP Logged

                        My reason for posting the picture of the vehicle Pick is that China executes people for corruption, bribery etc.Corrupt Political figures have been strapped to the gurney inside these units. I am convinced that these vehicles will be rolling once the culprits associated with this story are identified...

                        Think it would be money well spent to cut down on crime and corruption here in the US.  Only problem, who would be left to run Washington? Shocked

                        I won't get mad......I won't get even and NCEL will pay my bills :-)  - ITP
                        "He who is not courageous enough to take risks will accomplish nothing in life." - Muhammad Ali
                                                             


                          MaximumMillions's avatar - Lottery-013.jpg

                          Germany
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                          March 8, 2015
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                          Posted: June 26, 2015, 10:09 am - IP Logged

                          Oh no! I bought tickets on my vacation there. I am shocked to find out my 2$ were misappropriated. LOL

                           

                          The jackpot cap btw is why people often play the same line 100 times.

                            Coin Toss's avatar - shape barbed.jpg
                            Zeta Reticuli Star System
                            United States
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                            January 17, 2006
                            10344 Posts
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                            Posted: June 28, 2015, 12:56 am - IP Logged

                            And some here on LP a little while ago wanted a world-wide lottery.

                            Bang Head

                            Congratulations, you hit the jackpot. Our lottery headquarters is in the van that noise-gate posted. Come collect.

                            Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

                            Lep

                            There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.