Man fools parents and squanders 6 million yuan of their money: Shanghaiist

A 31-year-old man from Jiangsu Province frittered away over 6 million RMB ($940,800 USD) in Beijing. The money was sent to him by his parents, who thought he was at Oxford University pursuing advanced studies.

After graduating from a college in Dalian in Liaoning Province, the swindler lied to his parents about going to Oxford, and went to Beijing instead. In the six years in which he was "at Oxford studying", he spent around 2 million RMB on his girlfriend, who of course proceeded to break up with him when the money stopped rolling in.

In a desperate attempt to continue his previously lavish lifestyle, he made a deal with the devil and borrowed 400,000 yuan from loan sharks which he could not pay back. He then attempted to commit suicide, but was rescued by firefighters.

We know that the prevalence of kenlaozu (啃老族, parasite generation), or NEET's (not in employment, education, or training and relying on their families) has to do with the single-child family law China has imposed, and this latest example happens to be a little more prominent than most cases.

The generation of little emperors are often already spoiled rotten (some babies are even wearing Gucci?!), and we can't bear to imagine what might happen when all these little emperors one day assume the leadership positions in government and business sectors. Seriously, does negotiating with only children used to getting their way sound like fun to anyone?

Despite his lies, his parents have decided to forgive him after learning about his suicide attempt. If that's all it takes for him to escape responsibility, then we have to admit we can't feel too bad about all the money that was squandered over 6 years. What was that line about fools and their money?