US returns to China wife of banker in fraud case

Staff Writer
Columbus CEO

BEIJING (AP) — A Chinese woman who served a U.S. prison term for money laundering has been returned to China ahead of a meeting between President Barack Obama with Chinese President Xi Jinping.

The Ministry of Supervision said Kuang Wanfang was repatriated Thursday following cooperation with U.S. law enforcement.

Kuang is married to a banker who was convicted earlier in a $485 million fraud case in southern China. She and another banker's wife were convicted in the United States of helping to launder the proceeds and violating immigration laws.

The ministry said Kuang would be investigated by Chinese authorities on corruption and bribery charges.

Beijing is in the midst of an effort to bring back people who are accused of economic crimes and have fled overseas.