A senior banker has been executed and at least eight...

A senior banker has been executed and at least eight bank executives arrested amid reports of loan fraud and other abuses at China's state-run banks, official media reported.
Xiao Hongbo, a deputy branch manager at China Construction Bank ? one of the country's four biggest state lenders ? was executed in the western province of Sichuan for using bank funds to support eight mistresses, the local newspaper Huaxi Metropolitan News reported.
It said that Xiao, 37, caused the bank at least $484,000 in losses by stealing funds from customer accounts and falsifying books at a Construction Bank branch in Dacheng, a city in Sichuan.