Official found to have embezzled 821 million yuan

A low-ranking Beijing official has been found to have embezzled 821 million yuan ($132.2 million) to conduct financial transactions, the nation's top graft-busting agency said.

Zhang Peishan, former director of the agricultural service center of Machikou township in Changping district, used escrow funds for financial investment from September 2008 to April last year, the Central Commission for Discipline Inspection said on its website.

Zhang put 3 million yuan of the funds into a personal account and pocketed the earnings. He also accepted 140,000 yuan from a loan and trust company.