The billionaire known as Shi sits in handcuffs after confessing to robbing a bank in 1999
53-year-old powerful Chinese billionaire identified as Shi, has
confessed to robbing a bank 16 years ago and using the money to start up
his massive property business empire now worth billions.
According to the People's Daily Online, the tycoon was arrested
last week in central China's Zhumadian city for a crime he committed in
December 1999.
At that time, five armed suspects broke into a bank in the city of
Zhengzhou, injuring two clerks and walking away with 2.8 million yuan
(£290,000) in cash.
The property tycoon's face is covered as he taken away by plain clothed police
On the morning of October 21, more than 80 undercover police
investigators rushed to the Zhumadian, Henan province, and arrested five
suspects including billionaire Shi.
Shi is said to be well known in Zhumadian for being an extremely
powerful and successful property tycoon. He runs a number of businesses
including industrial real estates, development and trade companies, and
leisure farms. All earning him a fortune.
As well as property, he has billions invested in local businesses
and often hosts regular charity events. All of this has influenced the
community he lives in, and after he was arrested, he admitted to
breaking into the bank with four armed suspects and stealing the money
16 years ago.
Shi told police that before the robbery in the early 1990’s, he was
not satisfied with his income as a construction worker, so he gathered a
group of guys who were working as painters for a secret job.
Then for three months leading up to the raid they hatched a plan to
rob the bank which included a well-designed escape route. The whole
process which involved the suspects dressed as business men took just
five minutes.
It was a case that shocked the whole country as there have been no
arrests since it took place in 1999. Many of the investigators working
on the case are now retired but they never gave up. From a list of 158 suspects they eventually narrowed it down to five.
The billionaire is dragged away by police in Zhumadian
16 years later the Zhengzhou City Public Security Bureau held a
press conference to confirm the mystery of the 1999 bank robbery had
successfully been solved.
At the conference Police Inspector Ba Xizheng said: 'With the
modernization of criminal technology, after tireless efforts,
investigators and technical personnel on-site finally found a
breakthrough that led us to Zhumadian.'
A vital piece of evidence in the investigation was a hammer that was used to break the bullet proof glass during the raid.
The police managed to track down its manufacturer which led them to
a market in Zhengzhou where they were sold. 24 had been bought in the
time leading up to the robbery.
Investigators tracked down the whereabouts of 16 hammers which left
eight unaccounted for, which eventually led them to the five suspects.
Source: Dailymail
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