Creditors worry about their loans after entrepreneur implicated by bank official At just 37, he owns one of Beijing's smartest nightclubs, has paid 8.88 million yuan for a top-of-the-line Bentley and controls five listed companies. But the empire of Qin Hui is teetering on the brink after official media reported he had been charged with bribery by police. His creditors are becoming nervous about repayment of their loans. Police detained Qin at his home in Beijing just before midnight on April 12 and asked him to help in an investigation of senior bank officials. His name was on a list of several hundred people given to police by Zhang Enzhao, former president of the China Construction Bank (CCB), which announced his resignation in March. Zhang is in detention while he is being investigated. Beijing's Jinghua Shibao newspaper said prosecutors on April 26 charged Qin with bribery but released him on bail two weeks later and he had returned to work. Alarmed by news of the arrest, banks that had lent money to Zhuojing Investment and other firms Qin controls contacted them to ask about the collateral for their loans and how the money was being used, sources said. Staff at Zhuojing in Beijing, Qin's flagship company, did not answer the telephone yesterday, the fourth day of a week-long national holiday. But in Hong Kong on April 29, Philip Wong Kun-to, managing director of SMI Corp, another of Qin's companies, denied that Qin had been detained, saying that he had only helped with investigation. 'He is free to move around. His personal life is separate from his work at SMI,' said Mr Wong. Qin also controls SMI Publishing Group and M Channel Corp, both listed in Hong Kong, and Shenzhen-listed Changfeng Telecom and Hunan Computer. Trading in shares of the three Hong Kong companies was suspended on April 28. In its latest issue, Caijing magazine said that Qin had borrowed 600 million yuan from CCB and 400 million yuan from China Minsheng Banking Corp to finance his acquisition spree. It said that Qin cultivated his connection with Zhang after the latter became president of CCB in January 2002. Qin's is a story of rags to riches. Born to an ordinary family in Daxian, Sichuan province, in 1968, he studied in Chongqing, where he met his future wife, a relative of a retired senior official in Beijing. After graduation in 1989, he worked in Guangzhou for Mitsubishi and a Hong Kong firm before setting up his own business in 1991. In 1999, he paid almost US$2 million for majority ownership of a nightclub in the Great Wall Hotel in Beijing, giving him access to beautiful women, celebrities and people of power and influence. At the Beijing Motor Show in 2003, Qin paid 8.88 million yuan for a stretched Bentley limousine. Despite his fame and wealth, he has maintained a low public profile.