Debt-ridden Chinese held for spending spree
November 17th, 2011 - 5:10 pm ICT by IANSBeijing, Nov 17 (IANS) A man in China was detained for going on a spending spree and ignoring a court order to pay back millions of yuan in debts.
Xu Changbiao, 48, was given 15 days’ judicial detention by a court for not complying with its 2010 order to repay 8 million yuan ($1.25 million).
He and his wife spent almost 640,000 yuan on shopping, travelling and other entertainment activities between March and July this year, reported Shanghai Daily.
A probe found that the couple had 32 credit cards that were used 168 times on six trips during the five-month period.
The court directed Xu to clear his debts.
An official said that since 2008, 21 people have received jail terms for refusing to pay debts.
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Tags: beijing, china, credit cards, debts, entertainment activities, jail terms, shanghai, shopping, spending spree, yuan