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Fictitious expenses were used to siphon funds, resulting in a total fine of 140,000 yuan for Zhonghua Property & Casualty Insurance Yongjing County Branch.
Beijing Business Daily (Reporter Hu Yongxin) — On February 25, the Linxia Supervision Branch of the National Financial Regulatory Administration issued an administrative penalty notice stating that Zhonghua United Property Insurance Co., Ltd. Yongjing County Branch was fined 130,000 yuan for falsely listing expenses to embezzle funds. Wang Deyu, who was the acting deputy manager of the company at the time, received a warning and a fine of 10,000 yuan.