Unlicensed banker is arrested |
http://www.sina.com.cn 2003/07/17 11:34 Shanghai Daily |
Chinese authorities have arrested a former pig farmer who ran an unlicensed bank with 180 million yuan (US million) in deposits, police and his company said yesterday. Sun Dawu, 49, is charged with violating banking laws, evading taxes and weapons offenses. Sun is to go on trial soon, said a police officer in Xushui County in Hebei Province,swheresSun's firm is located. The officer, who would give only his surname, Wang, said Sun was in detention but wouldn't say when he was arrested. The vice president and the general manager of Sun's Dawu Farming and Animal Husbandry Group Co also were arrested. The three were charged with evading 1.6 million yuan in taxes. It said weapons charges were added after hand grenades, bullets, dynamite sticks and other illegal items were found during a search of company headquarters. A woman who answered the phone at Sun's firm head-quarters confirmed Sun was arrested but wouldn't give any other information. County pro-secutors refused to comment. The company set up its bank in 1993 without permission from banking regulators. It said the bank attracted deposits from rural villagers by offering higher interest rates than state lenders. The company's Website said Sun once worked for the state-run Agricultural Bank of China. |
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