Mystery of missing family
By Zhang Xuanchen |
February 22, 2011, Tuesday
|
Print Edition
Print Edition
The police in east China's Jiangsu Province are probing the disappearance of a local diamond tycoon and his family, who have reportedly been missing for three months - they have possibly fled debt.
Wuxi City police said they are looking into the disappearances of Shi Changcong, president of Wuxi Lanyi Jewelry Co, his wife Tang Yanfen and 25-year-old son Shi Yinyin. They refused to give more details.
Rumors are spreading widely on several local online forums that the family was in debt to the tune of 1.5 billion yuan (US$228 million) due to the son's reckless gambling in Macau last year.
A former colleague of Shi Changcong at the Gem and Jade Association of Wuxi, where Shi worked as deputy president, said "gossip was nonsense" as the family didn't own that many assets, though they live a luxury life, reported Modern Express yesterday.
Shi Yinyin's extravagant wedding early last year, highlighted by a line of super-luxury cars, stunned locals. But he might have divorced as Shi Yinyin's father-in-law told Modern Express that he is an ex-member of his family.
Shi Changcong's colleague confirmed the association have lost contact with the family since last October when they tried to notify him of an -upcoming presidential election at the association.
Some clues suggested the missing family, if not debt-laden, might have been in a dire economic situation.
Their company's two main jewelry outfits have closed. A lawyer's letter ordering Shi Changcong to pay back loans of 50,000 yuan to the Industrial and Commercial Bank of China is on the door at one outlet, the newspaper reported.
Wuxi City police said they are looking into the disappearances of Shi Changcong, president of Wuxi Lanyi Jewelry Co, his wife Tang Yanfen and 25-year-old son Shi Yinyin. They refused to give more details.
Rumors are spreading widely on several local online forums that the family was in debt to the tune of 1.5 billion yuan (US$228 million) due to the son's reckless gambling in Macau last year.
A former colleague of Shi Changcong at the Gem and Jade Association of Wuxi, where Shi worked as deputy president, said "gossip was nonsense" as the family didn't own that many assets, though they live a luxury life, reported Modern Express yesterday.
Shi Yinyin's extravagant wedding early last year, highlighted by a line of super-luxury cars, stunned locals. But he might have divorced as Shi Yinyin's father-in-law told Modern Express that he is an ex-member of his family.
Shi Changcong's colleague confirmed the association have lost contact with the family since last October when they tried to notify him of an -upcoming presidential election at the association.
Some clues suggested the missing family, if not debt-laden, might have been in a dire economic situation.
Their company's two main jewelry outfits have closed. A lawyer's letter ordering Shi Changcong to pay back loans of 50,000 yuan to the Industrial and Commercial Bank of China is on the door at one outlet, the newspaper reported.
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