Elizabeth Zhong murder: Mysterious foreign backers funded deal with film company – accountant

An Auckland businesswoman in dire financial straits and now believed to have been murdered had bought a film company under “strange” circumstances.

Elizabeth (Ying) Zhong is believed to have paid millions for Digipost in September 2017 with the help of mysterious financial backers believed to be from mainland China.

An accountant, who arranged the sale of Digipost to Zhong on behalf of its former owners, found it strange how little was done in the purchase.

“As soon as the due diligence was done, nobody seemed to care too much about the business,” said Auckland accountant Matthew Bellingham.

Grandma Zhong, 55, was reported missing on Saturday before police made a grim discovery that night.

His body is believed to have been found in the trunk of his own car, about 500 meters from his home in Suzetta Place, Sunnyhills.

Police have launched a murder investigation, but have not yet formally identified the body.

Since arriving in New Zealand in 1997, Zhong had bought businesses with interests ranging from film to winemaking.

However, it was understood that she was falling into increasing financial trouble.

Bellingham said it had overheard snippets of conversations leading up to the September 2017 sale from film production company Digipost that Zhong intended to forge connections with the Chinese film industry.

Digipost had been founded 30 years ago by Garry Little and operated as a key and successful player in the Auckland film industry.

Bellingham had helped manage the company’s accounting and therefore also managed its sale on behalf of the former owners.

He said they were ready to retire, so they took the opportunity to sell when people approached them on behalf of Zhong.

Bellingham never knew Zhong, but did deal with his accountant Sam Chan and lawyer Jean Ong.

Chan told Stuff that the matter was confidential and that he could not comment.

Bellingham said it did not know the source of Zhong’s money.

But the sale was not subject to financial approval from a Kiwi lender.

“I don’t know who they were or what the details were, but there were parts of the conversation that she had sponsors from mainland China.”

Bellingham did not confirm how much was paid for Digipost and the commercial building from which it operated, but said it was significant.

“It was not a massive transaction, but for a transaction of that size, I would normally expect a little more participation, a little more research and observation of what you are actually buying,” he said.

Financial problems

Zhong Sunbow Group described itself online as the manager of Kennedy Point and Carrick vineyards, and Digipost film production company, but all three companies had recently been sold or placed into bankruptcy or liquidation.

On October 30, BDO’s Andrew McKay and Andrew Bethell were designated as Sunbow receivers.

In February 2019, Zhong announced “reluctant” plans to sell his Carrick vineyard and winery in Central Otago, describing it as the “vineyard of his dreams.”

“I love it because it is purely organic,” he said in a press release at the time.

The winery, 500-barrel cellar and 70-seat restaurant rest on 34 acres overlooking Lake Dunstan’s Bannockburn Inlet and the Carrick Mountains.

The 2019 press release noted that Zhong had established wine distribution links with China and other countries in Asia.

Carrick staff declined to comment to the Otago Daily Times.

Receiver Andrew Bethell said he was “very sad” to learn of Zhong’s death and that his thoughts were with those who knew her and her family.

Bethell declined to discuss the company’s debt.

The vineyard was not sold in 2019, but returned to the market under the instructions of the recipients.

Still no arrest

Meanwhile, a neighbor of Zhong said today that she is surprised that no arrests have been made.

The neighbor, who did not want to be identified, said that on the property “a lot happened” with police and forensic agents coming and going.

“I’m a bit surprised that there haven’t been any arrests yet, but I don’t have a real concern for safety because I know what happened was directly related to Elizabeth,” she said.

“Like everyone else, I hope they can get to the bottom of the case.”

The neighbor described Zhong as a very reserved person.

“I’ve never spoken to her, other than to give her the strange goodbye that she would be back,” he said.

A man who confirmed he was Zhong’s partner declined to answer questions when the Herald went to his Beach Haven home today.

A friend who knew Zhong said she had been in a relationship with the man after their split from ex-husband Frank Fu.

The friend said that Zhong had been looking forward to a new life with her new partner.

“The last time we met, she introduced me to her new partner and we also talked about her daughter and grandson in Wellington, and she was eager to live her new life,” said the friend.

Police say they expected the examination of the scene to take some time, and a team of investigators was examining CCTV footage to track movements to and from the Sunnyhills property.

“Police continue to ask anyone with information to contact 105 and quote file number 201128/1909,” said Counties Manukau CIB Detective Shaun Vickers.

Zhong came to New Zealand with her then husband and daughter in 1997. Her daughter now works for the Treasury in Wellington.

Her friend described her as a smart businesswoman who was respected by many in the film industry.

She had been a sponsor of some community projects and also a 2017 Chinese film festival, and she used to host delegations, like one from Shanxi that arrived in 2018, in vineyards she owned.

But Zhong’s businesses appeared to have run into commercial difficulties in the months leading up to his death.

His Sunbow Group, which describes itself as managing the Kennedy Point and Carrick vineyards, and the film production company Digipost, were recently sold or placed in receivership or liquidation.

Zhong’s residential home in Kumeu also started getting creditors to bail him out since July last year.

His partner’s Elizabeth St property, Mt Eden, was also sold about three weeks ago.