Posted on 04/02/2021 5:45:10 PM PDT by SeekAndFind
A recent corruption case that has taken mainland China by surprise involves a senior CCP official from northeastern China’s Liaoning province, whose family was found to own 2,714 properties in the name of operating family businesses.
Xu Changyuan, a former high-ranking CCP official, was involved in mafia-linked assets worth more than 10 billion yuan (about $1.52 billion).
Xu leveraged his authority to aggressively harvest money for his family businesses, based on China’s state media reports.
A case in point was a property in Ganjingzi district, Dalian city, Liaoning province that he helped his brothers flip. They earned 500 million yuan ($76.2 million) off that one project due to Xu’s intervention.
Before he was sacked, Xu had held important administrative positions, including secretary of the Party Working Committee, director of the Administrative Committee of Dalian Jinzhou New District, mayor of Zhuanghe city, Liaoning province, mayor and Party chief of Wafangdian city, and secretary of the Jinzhou District Party Committee.
Xu and his sister and four brothers had run more than 20 family businesses in logistics, mortgage, real estate development, and futures for over 20 years.
Authorities said their family businesses legalized their illegal income, based on China’s state media outlets.
In the meantime, the Xu family employed violence in collecting debts. An investigation showed they cut some debtors’ Achilles tendons, forced some into cutting off one of their fingers as a punishment or subjected others to illegal detention.
In Sept. 2020, Xu Changyuan was sentenced to life imprisonment on charges of organizing and leading mafia groups, embezzlement, fraud, bribery, and others.
(Excerpt) Read more at theepochtimes.com ...
How much Chinese money has been offshored into US properties (retail and housing)?
Amateur compared to American politicians.
A widely- known secret is the huge amount of similar holdings in the once- great state of Californication (where, as unbelieveable as it may sound) a normal American worker could afford a house).
Exactly. In CCP this politician will do a ton of jail time or worse. In the US a corrupt Stupid Party politician gets forced out by the fascist media but keeps his or her money and freedom. While a corrupt Rat gets reelected by useful idiot voters.
Impossible.
All communists long to work side by side with their comrades pulling turnips at Turnip Commune #34.
RE: A widely- known secret is the huge amount of similar holdings in the once- great state of Californication
Same in every state in Australia and Cities in New Zealand.
If he wasn’t paying Xi, he’s a dead man.
Likely his extended family too.
Yup.
RE: If he wasn’t paying Xi, he’s a dead man.
Speaking of that, where is China’s richest man, Alibaba founder, Jack Ma?
He will lose everything. If he is lucky he will be in jail for life. All assets will be confiscated for sure
Democrats Feinstein, Boxer, Pelosi in California have large real estate holdings. I do not think any bought honestly.
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