Chinese businessman lies about bank acquiring in U.S.

Edited and translated by Ye Xin, People's Daily Online

A Wenzhou businessman who claimed to acquire the Atlantic Bank of America was found to be a liar, which has caused a stir online.

Lin Chunping, a businessman based in Wenzhou, east China's Zhejiang province, acquired the Atlantic Bank of America for 60 million U.S. dollars in June, 2011.

However, a reporter from Xinhua News Agency investigated the acquisition in Delaware and found that the Atlantic Bank does not exist.

Lin admitted his lie and tried to quibble that the American company he bought has close relations with financial industry.

Moreover, Lin enrolled his so-called "bank" with a name of "U.S.A. New HSBC Federation Consortium Inc." Actually, the bank has nothing to do with the HSBC.

Now, investigations and accusations are waiting for Lin Chunping, the ambitious and dishonest Wenzhou businessman.

Read the previous report "Chinese businessman acquires US bank for $60 million" at http://english.people.com.cn/90778/7735849.html