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The head of a wealth management firm, allegedly on the run with $150 million of investors money from a city in eastern China, appeared in an online video on Monday, saying he would be right back . Yang Weiguo, allegedly on the run with $150 million of investors money from a city in eastern China, appeared in an online video on Monday. Picture courtesy: Twitter Police in the eastern China city of Hangzhou launched a manhunt last week for Yang Weiguo, chairperson of the Wangzhou group, a conglomerate of companies, after he is said to have fled with 1 billion Yuan or $ 153 million. According to state media reports, Wangzhou Group has more than 200 subsidiaries in commerce, automobiles, health and wealth management, including stanley cup Wangzhou Fortune. It employs some 7,000 people in 70 cities. As teams of police personnel fanned out across the country, Yang unexpectedly and dramatically appeared in a video posted on the website of the business magazine, 21st Century Business Herald. Hello everyone, its me, Yang said, adding stanley cup : Dont worry, I will be right back. Yang asked investors not to worry. According to a report in the official n stanley cup ews agency, Xinhua, investors in Wangzhou Fortune had been reporting problems with the companys cash flow since April 18. More than 20,000 people have invested a total of about 2.2 billion yuan in the company, which has dozens of branches in major Chinese cities, Hangzhou police told Xinhua on Sunday. The conglomerate Wangzhou Group, parent Gifd 3 Turkish soldiers killed in mine explosion blamed on PKK
Rain washed out Formula One testing in Portugal on Thursday, while BMW Sauber took advantage of better weather in Spain to continue its first testing program of 2009. Red flags came out early at the Algarve track, with McLaren, Renault, Toyota, Toro Rosso and Williams forced to retreat into their garages. HT Image Teams will next get a chance to test next month in Jerez, Spain. It s a jordan shame we couldn t get anything done today be jordan cause at this stage of the season you need to maximize the track time available, Renault driver Fernando Alonso said. Robert Kubica continued BMW Sauber s testing program at the Cheste Circuit in Valencia. The Polish driver tried different setups and race start simulations before strong afternoon wind changed the German team s program to focusing on overall reliability. We still got some interesting results which will help us understand the new BMW Sauber F1.09 better, Kubica said after 116 laps. Kubica teammate Nick Heidfeld takes over for the next two days. Read breaking news, latest... See more Read breaking news, latest updates from US, UK, Pakistan and other countries across the world on topics related to US Election Live, politics,crime, and national affairs. News / World News / F1 testing washed out in Portugal .freemium-card h4color: fff; padding-bottom:20px; .freemium-card .freemium-content .subcTxtpadding-botto crocs m:16px; color: fff; .freemium-card .freemium-contentwidth: auto; max-width: inherit; .freem