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In America, you buy fancy cars and clothes on credit to improve your social image. In China, you pretend to buy a bank.
http://www.businessinsider.com/china...hunping-2012-6
In a China awash with fake iPhones, pirated DVDs and knockoff Louis Vuitton bags, rice trader Lin Chunping took fakery to a whole new level: He invented a U.S. bank and claimed he bought it.
The little-known businessman shot to fame in January when state media reported that he had taken over Delaware-based Atlantic Bank. The unprecedented acquisition brought him praise: His hometown gave him a prestigious political appointment and state media called his business experience "legendary."
The only thing that may have been legendary is Lin's audacity. Not only did he not buy Atlantic Bank in Delaware for $60 million as he claimed, but there is no Atlantic Bank in that state...
The little-known businessman shot to fame in January when state media reported that he had taken over Delaware-based Atlantic Bank. The unprecedented acquisition brought him praise: His hometown gave him a prestigious political appointment and state media called his business experience "legendary."
The only thing that may have been legendary is Lin's audacity. Not only did he not buy Atlantic Bank in Delaware for $60 million as he claimed, but there is no Atlantic Bank in that state...
...When his nonexistent bank was exposed in March, Lin told reporters he made "exaggerations" to raise his social status and to win future opportunities in banking...
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