Airport boss in court over 'illegal loan'
By Chen Hong (China Daily)
Updated: 2006-04-27 06:11
The former general manager of Shenzhen Airport appeared in court on Tuesday
in connection with an alleged bank loan fraud.
Cui Shaoxian has been in custody since surrendering to police in January.
According to the public prosecutor, Cui helped Zhang Yuming, a businessman
with two companies, acquire 225 million yuan (US$31 million) in loans from a
bank in Guangzhou.
Zhang got his grandson and brother-in-law to act as the airport's accountants
and used a fake company seal to get the money, it was alleged.
It was then transferred to the accounts of his companies in Xi'an, Northwest
China's Shaanxi Province, and Shenzhen, the public prosecutor said.
Cui signed the contract for the loan as well, which convinced the bank to
issue the money, it was claimed.
Zhang, as well as his grandson and brother-in-law, also appeared in court.
It was alleged Cui knew he was being used by the group to swindle the bank
loan, but found it hard to pull out.
To keep his post at the airport, he continued to assist Zhang, it was said.
He also blindly believed Zhang could pay back the loan, the court was told.
When he felt the situation was spiralling out of control, he paid more than
2.2 million yuan (US$275,000) of interest payments on the loan and surrendered
to police.
A trial will take place at a later date.
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