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Tycoon Zhang Zhenxin, owner of troubled Chinese financial conglomerate UCF Group, dies aged 48 as company struggles with mountain of debt
Xie Yu
Published: 7:30pm, 7 Oct, 2019
An undated picture of Zhang Zhenxin. Photo: Weibo
Zhang Zhenxin, a financial tycoon who controlled a sprawling Chinese business empire spanning peer-to-peer lending to bitcoin mining, has died in London as his conglomerate slid into a debt crisis.
Zhang, 48, chairman of UCF Group controller of NCF Group, died in the Chelsea and Westminster Hospital in London on September 18, his company announced in a WeChat post on Saturday night. Zhang, a low-profile businessman who ran three Hong Kong-listed companies, died of multiple organ failure related to alcohol dependence, and acute pancreatitis, the post said.
“Given the company is going through a special period of time”, the core management team had adopted a “prudent” principle after learning the bad news, and did not disclose the news until the cause of his death have been officially verified, it said.
Tycoon Zhang Zhenxin, owner of troubled Chinese financial conglomerate UCF Group, dies aged 48 as company struggles with mountain of debt
- Zhang, 48, died in London last month due to multiple organ failure, alcohol dependence, his company said in WeChat post
Xie Yu
Published: 7:30pm, 7 Oct, 2019
An undated picture of Zhang Zhenxin. Photo: Weibo
Zhang Zhenxin, a financial tycoon who controlled a sprawling Chinese business empire spanning peer-to-peer lending to bitcoin mining, has died in London as his conglomerate slid into a debt crisis.
Zhang, 48, chairman of UCF Group controller of NCF Group, died in the Chelsea and Westminster Hospital in London on September 18, his company announced in a WeChat post on Saturday night. Zhang, a low-profile businessman who ran three Hong Kong-listed companies, died of multiple organ failure related to alcohol dependence, and acute pancreatitis, the post said.
“Given the company is going through a special period of time”, the core management team had adopted a “prudent” principle after learning the bad news, and did not disclose the news until the cause of his death have been officially verified, it said.
