Fang, 48, was released on bail after he returned his contractual income of $146,000, China's state-run Xinhua news agency reported Monday.
Fang is accused of agreeing to secure television advertisement space through the advertising firm he is a partner in for an instant noodle company, and then failing to fulfill the contract.
Xinhua did not report the amount of Fang's or what penalties he might face in the case.
Copyright 2009 by United Press International.
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