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Former billionaire runs from gambling debts

(China Daily)
Updated: 2009-07-01 11:14

A former multibillionaire in Nan'an, Fujian province, decided to run away and leave his wife, his mother, and two children behind after he became nearly penniless.

Wu Xiongmeng, 36, used to be the president of a lucrative oil company. He owned a luxury seaside villa and lots of luxury cars.

But he became addicted to gambling in 2006 and owes more than 35 million yuan ($5,123,175) to different people.

The court plans to auction off his belongings.

(Strait News)