Franchise store's former shareholder disappeared with millions of dollars? Chow Tai Fook responds.

On June 13th, it was reported that Zhou, the former shareholder of the Chow Tai Fook Dahua Le Fang store in Shanghai, borrowed over ten million yuan from employees and customers under the pretext of business development and investment in the store. Zhou then disappeared. Over a million yuan of this money was transferred to the store's public account and taken by Zhou. In response to this, a spokesperson for the Chow Tai Fook brand stated to the "Luxury Circle" program, "Regarding the recent events involving franchisees, we are paying attention and actively investigating the situation. We have clear standards, regulations, and expectations for franchisee management. Any violations will be dealt with seriously."