Shaanxi Hunan Chamber of Commerce Network: Zhejiang Zhonggang real estate developers owe billions in debt and have fled abroad with a huge amount of money.

by desk114 on 2008-10-17 23:26:04

Key points: Zhejiang Zhonggang Holding Group Co., Ltd. owed the bank 200 million yuan, and its responsible person fled to Canada with his whole family. The developer once sold one house to multiple buyers in order to quickly recover funds. Yesterday, more than 100 owners of Zhonggang properties in Zhejiang spontaneously gathered, carrying banners to appeal at the gate of Jinhua municipal government.

Zhejiang Online News, October 16th report - "I really didn't expect that a public figure with so many honors would just disappear without a sound! A company that was once famous has become so detestable overnight." It wasn't until yesterday, when numerous media outlets within the province exposed the news about the responsible person of Zhejiang Zhonggang Real Estate Development Co., Ltd. absconding with the money, that Mr. Qian, a citizen of Jinhua, still refused to believe that this company, which was once locally famous as a "contract-abiding, credit-worthy" enterprise, had deceived him in such a manner.