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Police hunt for well-known Wenzhou boss
By Li Qian |
June 5, 2012, Tuesday
|
Online Edition
Online Edition
A Chinese businessman, who fabricated the news that he had acquired a time-honored US bank, made headlines again after he was accused of swindling hundreds of millions of yuan.
Lin Chunping, 42, owns five companies in Wenzhou, a Zhejiang Province city known as the cradle of Chinese entrepreneurs. He allegedly forged value-added tax invoices to defraud export tax rebates.
He disappeared on May 23 and Wenzhou police have waged a manhunt, Xinhua News Agency reported today.
Lin came into the spotlight early this year after claiming that he had acquired the 85-year-old Atlantic Bank in Delaware for US$60 million and took over the operation of the ailing bank last November.
He was even elected a member of the Wenzhou Committee of the Chinese People's Political Consultative Conference. CPPCC is a top advisory body to the national legislature.
But Lin's claim was later proved a fabrication and he apologized to the public for his exaggeration and he insisted that he was in the process to buy that bank, Xinhua said.
Lin Chunping, 42, owns five companies in Wenzhou, a Zhejiang Province city known as the cradle of Chinese entrepreneurs. He allegedly forged value-added tax invoices to defraud export tax rebates.
He disappeared on May 23 and Wenzhou police have waged a manhunt, Xinhua News Agency reported today.
Lin came into the spotlight early this year after claiming that he had acquired the 85-year-old Atlantic Bank in Delaware for US$60 million and took over the operation of the ailing bank last November.
He was even elected a member of the Wenzhou Committee of the Chinese People's Political Consultative Conference. CPPCC is a top advisory body to the national legislature.
But Lin's claim was later proved a fabrication and he apologized to the public for his exaggeration and he insisted that he was in the process to buy that bank, Xinhua said.
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