Property company blamed for misuse of funds

Source:Global Times Published: 2015-9-27 21:38:01

A public repair fund of over 5.6 million yaun ($878,640) for a residential community in Fengtai district had been allegedly withdrawn from by staff from the community's property company. The money was taken via forging the signatures of the community's more than 700 homeowners, the Beijing Evening News reported.

The homeowners were told in August that the company withdrew the funds to renovate the fire system, access control and the elevators. However, the homeowners claimed they saw no indication the repairs were completed.

Zhao Huiquan, the manager of Noble International Property Company, the enterprise in charge of the money, resigned along with several other staff members. Meanwhile, 3.92 million yuan has been confirmed to be returned.



Posted in: Metro Beijing

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