Lottery funds misused in China

Lottery funds misused in China

The National Audit Office of China has revealed that a lot of lottery funds have been improperly used. According to this report they have found that approximately 16.9 billion Yuan have been misused. That sum translates to approximately $2.72 billion. This discovery comes after the Chinese government has been trying to stop corruption and illegal activities which have primarily focused on illegal gambling taking place in Macau. It seems that the money was used to build or buy office buildings and hotels and parts of it were also embezzled by different people. All of these irregularities apparently took place from 2012 to 2014.

As the government continued to uncover information about these funds they found out that 18 provinces were involved in this misappropriation. Out of those 18 provinces, 17 have broken the Chinese internet laws that ban the sale of tickets online. They did not have approval from the Chinese Ministry of Finance. Casino gambling is completely legal in Macau but the government never thought that making the lottery available everywhere could cause problems. Their thinking was that the lottery is cleaner and it has less negative influence over citizens.

Their lottery industry keeps growing and has might soon surpass the one in the US which would make it the biggest in the world. Tickets are sold for as low as 2 Yuan up to a sum of 200 Yuan. This situation might bring some very strict changes to how China handles this lottery.


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