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Millionaire turned laborer repaying his debt

(China Daily)
Updated: 2009-02-21 08:02

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)