A man that bought a 3m-long public notice hand-written by Chairman Mao Zedong, the founding father of the Communist state in 1929, ripped it out after buying it for just £50 and thinking that it was fake.

It is reported that this is one of the most prized items in the world.

Valued at £400 million, it is believed that the script was stolen from a flat in Kowloon in Hong Kong last month.

An anonymous purchaser came forward after seeing reports of the theft.

The man believed that the scroll was fake, so he decided to tear it so he could store it more easily.

It is reported that the item was the most prized item among a reported £400 million haul stolen from a famous collector’s house, which is located in Kowloon in Hong Kong.

The police have identified 3 suspects and have successfully arrested one of them.

It is believed that thieves broke into the flat of Fu Chunxiao, a well-known collector in Hong Kong, while he was in China.

Fu is known for collecting extremely expensive stamps and revolutionary art.

The scroll that was stolen is valued at around £230 million.