Wenzhou investor wanted by police in possible tax scam

Lin Chunping, a Wenzhou entrepreneur who fabricated a story about purchasing a US bank, is being sought by police on suspicion of illegally issuing value-added tax invoices.

"Police have confirmed that Lin has fled the city," said Zhang Xunting, deputy director of the information office of the city government of Wenzhou, Zhejiang province.

Local police believe the 42-year-old Lin was involved in requesting several companies under his control to illegally issue value-added tax invoices to cheat tax authorities of export tariff rebates, according to Xinhua News Agency.