Chinese government official, 11 family members disappear ‘after he borrowed 1.4 billion yuan’
Cadre sent text messages to some creditors apologising for not paying the money back, according to a newspaper report
PUBLISHED : Monday, 22 June, 2015, 1:49pm
UPDATED : Monday, 22 June, 2015, 6:35pm
Mimi Lau in Guangdong [email protected]
Zhong Qizhang, centre, pictured during a meeting. Photo: Gd.qq.com
A government official in southern China has disappeared with a large number of his family after he had borrowed 1.4 billion yuan (HK$1.8 billion), according to a newspaper report.
Zhong Qizhang got most of the cash from individuals and also borrowed from banks, the Southern Metropolis News said.
He disappeared with 11 of his family after he resigned from his job as the deputy director of the government’s office in Huidong county in Guangdong province.
Soon after he quit some of his creditors received text messages telling them they would not get their money back.
“I really appreciate your trust along the way, but I really can’t honour my word by returning the borrowed money. I’m sorry,” one message said.
“My company has collapsed, my job is lost and my family is in trouble. I hope that you can forgive me for the choices I made. You are still my brother if it wasn’t for the money. I sincerely hope you can overcome yours struggles.”
The report did not say how Zhong managed to borrow such a huge amount of money or what he told lenders the cash was for.
The newspaper said he had also made off with down payments buyers had placed on 58 houses on a new estate in Huidong county, but no figure was given.
Zhong’s car was found at Zhangmutou train station near the city of Dongguan.
The report said he had run away with relatives including his mother, wife, daughter, two brothers, one cousin and one brother-in-law.
More than 200 staff at a shoe factory owned by Zhong’s relatives are also owed unpaid wages, the report said.
The authorities are investigating.
