Anhui couple detained in 11.5m yuan theft case
By Li Qian |
April 19, 2012, Thursday
|
Print Edition
Print Edition
A couple running a dairy farm in east China's Anhui Province have been detained on suspicion of illegally raising funds and swindling people out of nearly 11.5 million yuan (US$1.83 million), authorities said yesterday.
The husband, surnamed Xu, was arrested at the Guangzhou airport in Guangdong Province last September when he was about to fly to France to escape the police manhunt. His wife, surnamed Xie, handed herself to the police later, the Anhui Business News reported yesterday.
The two are accused of borrowing money via shark loans from 19 investment companies, private lenders and guarantee companies in the provincial capital Hefei from August 2009 to August 2011.
They hoped to expand their business to attract more investors and cover the earlier debts. But they soon felt overwhelmed by the heavy debts, the report said.
On an early morning last August, the couple secretly sold 35 cows to the city of Huaibei and promptly disappeared. A week later, Changfeng County police received reports from a loan company employee surnamed Wu that he couldn't connect with the couple who offered bogus documents and borrowed 1.2 million yuan.
"Workers said they didn't see their boss for several days," Wu told police.
On September 9, 2011, Guangzhou police discovered Xu, about 60, in the airport and handed him to Changfeng police, the report said.
The husband, surnamed Xu, was arrested at the Guangzhou airport in Guangdong Province last September when he was about to fly to France to escape the police manhunt. His wife, surnamed Xie, handed herself to the police later, the Anhui Business News reported yesterday.
The two are accused of borrowing money via shark loans from 19 investment companies, private lenders and guarantee companies in the provincial capital Hefei from August 2009 to August 2011.
They hoped to expand their business to attract more investors and cover the earlier debts. But they soon felt overwhelmed by the heavy debts, the report said.
On an early morning last August, the couple secretly sold 35 cows to the city of Huaibei and promptly disappeared. A week later, Changfeng County police received reports from a loan company employee surnamed Wu that he couldn't connect with the couple who offered bogus documents and borrowed 1.2 million yuan.
"Workers said they didn't see their boss for several days," Wu told police.
On September 9, 2011, Guangzhou police discovered Xu, about 60, in the airport and handed him to Changfeng police, the report said.
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