Fake watches and knock off Louis Vuitton bags? In china, such fakery is so common it's pedestrian. Well, rice trader Lin Chunping took it to another level with this brazen act: he pretended to buy a fake U.S. bank!
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.