The China Charity Aid Foundation for Children is embroiled in money laundering suspicions stemming from its problematic accounting records.
The charity released its 2011 financial statements a month ago, from which as much as 4.75 billion yuan – or about $760.48 million – was missing without detailed records.
Online whistleblowers have raised questions wondering if the charity was involved in money laundering, which drew huge public attention.
A commentary by the Beijing News notes that the children's charity has admitted to having a decimal point in the wrong place, and a sum of 475 million yuan was wrongly presented as 4.75 billion yuan in its financial statements.
But the article says the explanation is not enough and
