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Hunt for bank boss who had 100m yuan

By Pan Zheng (Shanghai Daily)

09:24, March 26, 2012

POLICE are seeking the former boss of a bank in east China's Jiangsu Province, after he allegedly fled with more than 100 million yuan (US$15.87 million) he had amassed in loans.

Sun Feng, about 40, was director of the Agricultural Bank of China's Yaosai branch in Jiangyin City, Southern Metropolis Daily reported.

He traveled to Thailand with his wife, parents, son and daughter on December 28, and has yet to return, the report said.

Police believe Sun took with him more than 100 million yuan which he personally borrowed.

Wu Yidian, a 31-year-old Singaporean female employee of Standard Chartered PLC, was placed under criminal detention in the neighboring Wuxi City on March 6.

Police suspected she provided her client Sun, who had a Singaporean passport, with help in transferring money abroad, the report said.

A local company executive in Jiangyin said Sun usually borrowed at a high interest rate of around 20 percent. Lenders gave him the money because they were reassured by Sun's title.

Police said they have sent officers to several southeast Asian countries.

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