An elderly man in Chongqing municipality went from being a famous millionaire to a manual laborer with a huge financial debt.
Zou Yulin, 63, of Dianjiang county, opened his own business in 1986 and after 10 years, he became a millionaire.
In 1996, Zou wanted to expand his business and borrowed 300,000 yuan ($43,800) from his friends to buy a machine. However, things didn't work out and he had to shut down his workshop and was unable to repay the money.
Zou went bankrupt in 1999 and has been working as a laborer. So far, he has repaid 200,000 yuan to his friends, and plans to repay every cent.
(Chongqing Morning News)