Bogus bank man jailed
Print Edition
A CHINESE businessman, infamous for his claims to have purchased an imaginary American bank, was sentenced to life in prison yesterday for making false value-added tax invoices worth 520 million yuan (US$84.8m), according to a local court ruling.
Li Chunping, 43, from Wenzhou City in east China’s Zhejiang Province, was accused of making 1,266 false VAT invoices worth 520 million yuan and selling them to 315 companies across the country between September 2011 and May 2012 for profit, a Wenzhou Intermediate People’s Court ruling said.
Li was also accused of making false tax rebate invoices. All of Li’s personal wealth has been confiscated.
Lin was hailed a Wenzhou “financial hero” after claiming to have bought the “Atlantic Bank of America” in 2011. It was later found not to exist.
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