Chinese bankers get 25 years for £320m theft

Two former managers of the Bank of China and their wives have been given up to 25 years in jail after stealing more than £320million from the bank.

They were convicted in Las Vegas last year on charges of racketeering, money laundering, international transportation of stolen property and passport and visa fraud.

The former bankers laundered the stolen money through Hong Kong, Canada and the United States, using Las Vegas casinos to make bets of up to £53,000. They emigrated to the United States with their wives by obtaining false identities and staged "sham marriages" with US citizens.

Xu Chaofan and Xu Guojun were sentenced to 25 and 22 years in prison respectively. Their wives, Kuang Wan Fang and Yu Ying Yi, were each sentenced to eight years in prison. All four were ordered to pay £318million in restitution.