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Media tycoon's body found at tourist spot
By Cyril Li |
February 13, 2009, Friday
|
Print Edition
Print Edition
A MEDIA tycoon involved in an alleged 250-million-yuan (US$36.58 million) Ponzi scheme shot himself at a tourist site hundreds of kilometers from his home.
Zhang Shiqiang's body was found by tourists at Laoshan Mountain in Qingdao City, Shandong Province.
Zhang's face was unrecognizable and he was initially identified by car keys, clothing and a backbone deformity. A DNA test later confirmed his identity, according to Hangzhou-based Metro Express.
Qingdao police said Zhang committed suicide by shooting himself three times.
Zhang, 51, served as the board chairman of Beijing-based China Television New Media Cultural Development Co and the legal representative of Henghong Industrial Co in Shanghai.
He went missing in December and it was rumored he had been involved in a 1.6-billion-yuan fund-raising scheme.
Zhejiang Over-Boundary (Group) Co Ltd told police it had been conned into investing 250 million yuan in the scheme.
Officials in Pujiang County, Zhejiang Province, froze Zhang's bank account and discovered it was linked to illicit money worth 300 million yuan.
The Pujiang police were told of Zhang's death last Friday, said Zheng Liexian, an officer in charge of criminal investigations in Pujiang.
Zhang Shiqiang's body was found by tourists at Laoshan Mountain in Qingdao City, Shandong Province.
Zhang's face was unrecognizable and he was initially identified by car keys, clothing and a backbone deformity. A DNA test later confirmed his identity, according to Hangzhou-based Metro Express.
Qingdao police said Zhang committed suicide by shooting himself three times.
Zhang, 51, served as the board chairman of Beijing-based China Television New Media Cultural Development Co and the legal representative of Henghong Industrial Co in Shanghai.
He went missing in December and it was rumored he had been involved in a 1.6-billion-yuan fund-raising scheme.
Zhejiang Over-Boundary (Group) Co Ltd told police it had been conned into investing 250 million yuan in the scheme.
Officials in Pujiang County, Zhejiang Province, froze Zhang's bank account and discovered it was linked to illicit money worth 300 million yuan.
The Pujiang police were told of Zhang's death last Friday, said Zheng Liexian, an officer in charge of criminal investigations in Pujiang.
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