The chairman of a Chinese e-financing firm suspected of having fled with 1 billion yuan ($153 million) of investors' money has emerged to say he has not absconded but was merely meditating in the Gobi Desert over the firm's direction.
Yang Weiguo, chairman of peer-to-peer online lending platform Wangzhou Fortune, on Monday said he would be "right back" after staff and clients failed to contact him for several days. Local media reported that he was in Xinjiang.
Yang is at the center of the latest saga concerning China's shadow banking and e-finance sector.
Wangzhou Fortune revealed last Thursday that it had lost contact with Yang and reported the matter to Shanghai police.