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A Chinese court in Beijing has sensationally issued an arrest warrant and wanted posters for Aston Villa's former owner Dr Tony Xia.

Xia took charge at Villa Park in 2016 after buying out Randy Lerner for £76million with a pledge to return the then Championship club to the Premier League.

But instead he merely gambled the relegated club's parachute payments on bankrolling a promotion push which failed.

It left Villa facing potential administration last summer until the club were saved by a takeover in July 2018 by real billionaires Wes Edens and Nassef Sawiris, who helped Villa up last term.

(Image: Birmingham Mail)

After that promotion, Xia was due to pay £30million to Lerner; unable to pay, the debt fell to the club, with the new owners stepping in with a further cash injection through their company NSWE, in exchange for the 42 year-old's shares.

But Xia's reckless gamble is now biting him back home with a string of unhappy investors chasing him for their money back.

He claimed upon taking over Villa to be a billionaire but he was actually a frontman for other investors' cash.

They are now fuming after promises of lucrative returns in the Premier League under Xia's regime bit the dust.

Mirror Sport understands there is now a reward of around £30,000 out for information on Xia's whereabouts and a warrant for his arrest.

He and his Recon Group have been sued for breach of contract and non-payment of debts.

The court has put out wanted posters for Xia, who claimed to have been educated at Harvard.

Xia,42, was famously outspoken previously on Twitter but has not been on the platform since August.He is understood to no longer have any shares or involvement with Villa whatsoever.

But it didn't stop Xia bragging on Twitter in May after seeing the club win promotion at Wembley over Derby that: “I kept my promise”.

To which the club's former CEO Keith Wyness, who was suspended by Xia in June 2018 when the club couldn't meet a tax bill, replied: “fraud”.

Wyness has since brought a case for unfair dismissal which will be heard on November 4.

Villa are back in Premier League action this weekend when they host Brighton at Villa Park.

Dean Smith's men currently sit 15th in the Premier League, with eight points from their opening eight matches.