Chinese ‘rare wood investor’ pays RM1.1mil for common lumber

The log of 'rare golden nanmu' turned out to be from a common species bought three years ago for about RM130. - Photo: Handout

BEIJING: A man in south-eastern China has been accused of passing off a log of ordinary timber as a rare collectors' species which he sold for 1.68mil yuan (RM1.1mil), local media reported.

The suspect, from Wenzhou in Zhejiang province, bought the log for only 200 yuan (RM130) three years ago, the Qianjiang Evening News reported citing local police.