Police catch bank 'buyer'
By Li Qian |
June 12, 2012, Tuesday
|
Print Edition
Print Edition
A ZHEJIANG businessman, who lied that he had acquired an established US bank and went missing after he was accused of fraud, has been caught by police.
Lin Chunping, 42, owner of five companies in Wenzhou, Zhejiang Province, is accused of swindling hundreds of millions of yuan by issuing forged value-added tax invoices to companies in 22 provinces and cities, police said.
Lin and another six suspects were captured in Zhuhai, a city in the southern Guangdong Province, on Saturday, more than two weeks after he disappeared on May 23.
Lin made headlines earlier this year when he claimed he had bought the bankrupt 85-year-old Atlantic Bank in Delaware for US$60 million.
Lin, a native of Wenzhou, once dubbed the cradle of China's entrepreneurs, was said to have restored Wenzhou businessmen's reputations after a string of failed businesses and widespread reports of loan sharking in the city.
Lin Chunping, 42, owner of five companies in Wenzhou, Zhejiang Province, is accused of swindling hundreds of millions of yuan by issuing forged value-added tax invoices to companies in 22 provinces and cities, police said.
Lin and another six suspects were captured in Zhuhai, a city in the southern Guangdong Province, on Saturday, more than two weeks after he disappeared on May 23.
Lin made headlines earlier this year when he claimed he had bought the bankrupt 85-year-old Atlantic Bank in Delaware for US$60 million.
Lin, a native of Wenzhou, once dubbed the cradle of China's entrepreneurs, was said to have restored Wenzhou businessmen's reputations after a string of failed businesses and widespread reports of loan sharking in the city.
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