Earlier last month (Nov 22), a number of Chinese media outlets published reports claiming that billionaire businessman Ji Xiaobo is in financial trouble.
According to those reports, Xiaobo owes creditors RMB 5.6 billion (S$1 billion). As a result, the couple has had to mortgage a RMB 300 million (S$58 million) mansion that they own.
Additionally, a pair of 50 meter-long crystal dragons worth HK$10 billion (S$1.8 billion), which Pace had given her mother-in-law in 2017 as a present, is said to have been sold for a loss recently, as the family is said to have been scrambling to come up with the cash to repay their debts.
However, the couple has since stepped forward to deny the reports. On December 3, Xiaobo issued a warning, threatening to sue those behind the reports.
Pace also posted on her personal Weibo account, warning the media to “watch your words”.
“We've won a number of lawsuits already, but there are still media outlets with no principles who can’t stop spreading (baseless rumours). These days, I'm almost like a lawyer,” she wrote.
Pace also shared a post from their legal representatives, Beijing Xingquan Law Firm, revealing that a number of netizens who had spread rumours that Xiaobo had been caught laundering money had apologised after being sued.
The post also refuted the claims that Xiaobo is currently in debt, writing that “for a listed company whose market value is around NT$63 billion (S$2.8 billion), having a debt of around NT$15 billion (S$670 million) is considered a low debt ratio", and that the company is doing well.
Pace and Xiaobo got engaged in May 2013, but have yet to officially tie the knot. The couple has three children together: four-year-old Hilary, three-year-old Hans and one-year-old Hudson. In August this year, Pace confirmed that she is expecting their fourth child.
Photos: PBE Media
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