In the past 30 years, immigrating overseas and purchasing overseas assets have been the choices of many Chinese wealthy and elites. There are also many corrupt individuals who will choose Western countries when they flee. In their hearts, the West is a paradise for the rich, a country of freedom, and a paradise that follows the spirit of contract, and assets are safe there.
And what are the facts?
1. R&F Real Estate: Bribery is not surprising
On December 12, R&F Real Estate issued a statement saying that chairman Zhang Li was accused of bribery. According to media sources, on November 30, Zhang Li was arrested by the London police and later released on bail of 15 million pounds, which is also the highest bail amount in the history of British courts.
As the matter developed, R&F also tried its best to distance itself from Zhang Li’s behavior. It issued an announcement stating that the project involved was held by Li Zhang personally and had nothing to do with the listed company.
According to public information, the case involved in this tension was related to a corruption case involving Mohamed Nuru, the former director of the San Francisco Department of Public Utilities. Nuru has used his position to accept bribes from contractors, developers, etc. on many occasions. He himself also admitted in his confession to accepting bribes (free travel, gifts and benefits) from Chinese companies to obtain the necessary approvals for the San Francisco project.
R&F's response was: "All procedures for the U.S. project are in compliance. The other party is on a business trip to China. Zhang Li's invitation to dinner and hotel stay is just Chinese hospitality and does not involve bribery." How the subsequent events will develop, we can only wait for the final judgment.
But before Zhang Li, there were four other real estate companies in our country that were also involved in bribery Rashomon . For example, on June 23, 2020, Los Angeles City Councilman Jose Huizer was arrested by the FBI (FBI) on suspicion of accepting approximately US$1.5 million in bribes from Chinese real estate companies. The four Chinese companies named have always firmly denied this. Therefore, this tense incident is not unexpected.
Of course, with this arrest, the hidden real estate territory of the R&F boss in the United States was also revealed. Although R&F has had a difficult time in these years, Zhang Li has been working hard to open up a personal "second curve." As the main platform for Zhang Li's personal real estate development in the United States, ZL Properties Inc purchased assets in the United States on a large scale from 2014 to 2015. It currently owns a total of 12 projects in several famous cities in California, including San Francisco, Los Angeles and San Jose, with a total value of more than 2 billion US dollars. In addition to investing in real estate, Zhang Li also founded a company focusing on energy business - Force Development, which covers the entire coal trade industry chain. Judging from the 2021 annual report, the Zhang Li family's shareholding ratio is as high as 74%. Even though last year's R&F annual report showed a loss of 16.353 billion yuan, Zhang Li's assets were not greatly affected.
Judging from the current situation, the probability of Zhang Li being extradited to the United States and convicted is very high. Abroad, the corruption problem may not be as simple as at home, and there are many means at their disposal. For example, they can make you pay high lawyer fees and trial fees through court after court... and then deport you back to the country when your property is exhausted. Now it seems that Zhang Li’s huge assets in the United States are likely to be wiped out.
And such examples were not uncommon before.
2. Being blackmailed behind my back, I was terrified and helpless
In 1999, Lai Changxing was investigated. Later, with the help of Zhuang Rushun, Jin Chan escaped, took his family with him, and fled to Canada with a huge amount of stolen money. In the beginning, life was pretty cool. First, he spent 8 million to buy a garden-style villa in , Vancouver, , and lived a life of luxury. He visited major local casinos every day. Even if he lost millions of yuan, he could still talk and laugh without any emotion.
Lai Changxing originally thought that if he escaped, he would be fine. The Chinese police could not find him, and Canada would not do anything to him. However, his good life did not last long.
Faced with China’s arrest request, the Canadian Immigration Service arrested the couple in November 2001, but the charges were “illegal immigration.” After some money manipulation, the two were released in June 2002. At that time, in order to extort money, the Canadian government released Lai Changxing on the condition of a huge bail. This huge bail was not returned until Lai Changxing was deported to the country, which shows how ugly the other party's appearance was.
This arrest also made Lai Changxing understand the truth, that is, he has become a bargaining chip in the hands of Canada. Since then, he has been surrounded by fear every day, fearing that Canada will use all kinds of blackmail on him under the pretext of deportation. Later, he also confessed: "It was really not a human life for me to be on the run in Canada. I was under a lot of psychological pressure. I was afraid that I would be sent back to the country at any time. I almost had a mental breakdown several times."
Lai Changxing's fear was not unreasonable. After his arrest in 2002, he also tried to formally apply for Canadian citizenship. After many court hearings (of course the process was also expensive), he was rejected by the Canadian court in 2004. In 2005, he was arrested by Canadian police for attending a party for more than three hours, and was later released through money manipulation.
But in 2009, the Canadian Immigration Department issued him a work permit, allowing him to work...
After all his property, physical strength, and energy were exhausted, on July 21, 2011, Canada made a decision to "decided to implement Lai Changxing's deportation order" and sent him back to his country for trial.
Looking back on the entire process, it is not difficult to find the ulterior motives of the relevant Canadian departments. From beginning to end, Lai Changxing was teased like a clown. In the end, all his money was gone, his own value was drained, and then he was completely abandoned.
So in the eyes of Western capital, profit is what they really value.
3. Unbearable, a 68-year-old man massacred American churches
On the afternoon of May 15, 2022, a short old man walked into a Chinese church in Orange County, Los Angeles, and then took Two guns were pulled out, and a burst of wild shooting began. Blood stained the plain carpet red, and the church was in panic until the old man was pushed to the ground...
The old man's name was Zhou Wenwei, 68 years old. Before immigrating to the United States, he lived a pleasant life in Taiwan. A wrong decision in 2009 ruined his supposedly stable and happy old age.
Starting in 2009, he sold all his assets in Taiwan, moved his family to the United States, and boldly bought 12 properties in Las Vegas, starting his dream of renting a house. But things went against his expectations. Over the years, he had many difficulties in collecting rent. In the end, the house could not be rented out, and his capital chain was cut off. In order to survive, he had to go to work with gray hair. But even so, he was unable to pay the high local property fees and could only watch his properties being auctioned by the court.
He tried to apply for a subsidy from the local government, but the other party thought that he had purchased too many properties and did not meet the application standards, so he was ruthlessly rejected.
Before the incident, all the properties under Zhou Wenwei's name were auctioned. The dream of being a "charterer" fell to pieces in the United States. In desperation, he raised his pistol and had a reckoning with this cold society, and thus the scene described above emerged.
After the case, a reporter interviewed Zhou Wenwei's former tenants and neighbors. According to everyone, he was kind-hearted and simple, and was definitely not the murderous maniac everyone saw. The shattering of dreams and the cruelty of reality forced this once "good man" to the path of crime.
If he had not spent all his wealth to immigrate to the United States, if he had not bought 12 properties in one go, then at the age of 68, it would be the time for him to enjoy his old age and have grandchildren.
But now, everything is irreversible.
4. A shrewd “businessman” will continue to step on the thunder
When talking about Asia’s richest giants, it is difficult to bypass a controversial figure, that is Li Ka-shing. In terms of overseas investment, Li Ka-shing has also repeatedly stepped on the wrong side of the road, and even lost his position as the richest man in Hong Kong because of this.
At that time, Li Ka-shing acquired 252% of the shares of Husky Energy, a veteran Canadian oil company, for HK$3.2 billion. This transaction was also hailed as "one of the greatest investments in Li Ka-shing's life." Although it made a lot of profits, the company was hit hard by the epidemic later. The stock price plummeted, the market value shrank, and it was finally acquired by a Canadian manufacturer.
In the UK, Li Ka-shing’s total investment exceeds HK$400 billion, and his investment industries cover almost all “lifebloods”. Some even say that half of the UK belongs to him. But the plan could not keep up with the changes. When the UK announced its departure from and the EU , Li Ka-shing's industry also suffered a huge blow, and he had to cash out from China again and again to save the situation. According to people familiar with the situation, although Li Ka-shing has sold off a lot of his assets in the UK, he still has hundreds of billions of dollars trapped, and it is very difficult to get out. His wealth has shrunk seriously, equivalent to the evaporation of 15% of his assets.
There is also Greene King, a chain of bars previously purchased by Li Ka-shing in the UK. Due to the spread of the epidemic, the British government stipulated that local British-style bars should suspend operations, causing Li Ka-shing to suffer huge losses. Later, in order to stop the loss in time, some stores had to be closed and layoffs were laid off.
The continuous shrinkage of assets caused Li Ka-shing to lose his position as the richest man in Hong Kong, which he had held for many years. Li Ka-shing, who was very proud of his success in the Chinese market, suffered repeated setbacks in his overseas investments. It was far from smooth sailing as everyone imagined.
5. Private property “confiscated in one second”
In addition to the above cases, overseas assets will also face various risks of sanctions.
The United States, in particular, frequently wields the stick of sanctions to deter other countries in order to achieve its own goals. Because of the special status of the US dollar in the international financial system, sanctions have become a common method used by the United States. Countries such as Iran, Cuba, Afghanistan, Venezuela, and Russia have all experienced this. This move also fully exposed that the so-called "rules-based order" advertised by the United States is not to defend justice, but to maintain power and hegemony. It reflects the barbarism and cruelty of American hegemony and has also made more and more countries in the world recognize that the United States, the so-called "superpower", is actually a "super thief."
Many people may have longed for the so-called "freedom" and "democracy" in the West since they were young. After gaining strength, they choose to immigrate and purchase assets overseas. But just when you think you can live a happy life like this, suddenly, there is friction between country A and your motherland, country B, and country A wants to sanction country B.
With one order, the Ministry of Justice of country A can set up a working group to investigate the "criminal behavior" of the rich in country B in country A, and confiscate all their "illegal wealth" together. What can you do about this?
This is not just a joke, but the real experience of many wealthy Russians. In fact, we can barely understand the sanctions in finance, technology and other fields from a standpoint. But there is really no lower limit to the indiscriminate plundering of private property.
After the Russo-Ukrainian war broke out this year, Italy announced that it would confiscate the properties of wealthy Russians worth 140 million euros in the country, including luxury yachts and villas. Russian steel and telecommunications tycoon Alisher Usmanov's luxury yacht was also seized by Germany, with an estimated value of $730 million. Even Switzerland , known as the "most neutral country", has frozen Russian assets in Swiss Bank . In the past, Swiss banks have always been a symbol of security and privacy, but now they are telling everyone with practical actions: the so-called security is only for its allies.
Under the "encirclement and suppression" of many countries, Russia's super-rich people also had to start "escape".According to incomplete statistics, due to the impact of conflicts and sanctions, Russian wealthy people have lost more than 80 billion US dollars in wealth. Moreover, not only the property cannot be preserved, but the personal safety of Russian businessmen has also been violated. Recently, Russian State Duma Chairman Vyacheslav Volodin stated to the outside world that the West first seized the overseas assets of Russian businessmen and is now arresting them. British police once arrested a 58-year-old Russian businessman on suspicion of money laundering.
Because of the outbreak of the Russia-Ukraine conflict, a large number of Russian businessmen who are afraid of risks have chosen to flee Russia and retain a large amount of assets in Western countries. However, Western countries, which have always claimed that private property is sacred and inviolable, have once again wielded the big stick of sanctions to squeeze the last bit of value out of Russian "refugees". Many Russian businessmen even publicly announced their separation from Russia in order to get their property back, but to no avail.
The reason why Western countries do this is also very simple, nothing more than these points:
First, Western countries need funds to fill the gap in aid to Ukraine.
Secondly, the capital behind Western countries also hopes to use this to appropriate this piece of fat that is brought to their lips.
Third, Western countries do not allow Russian businessmen to become big in the West.
The faces and ugly eating habits of Western countries have also sounded the alarm for us. In view of recent incidents such as the obstruction of Chinese companies' acquisition of semiconductor companies in Germany and the forced redemption of China's investment shares in British companies, it has also completely exposed the fear and vigilance of Western countries towards Chinese investment .
Therefore, we must be prepared. Under the unlimited control of the West, any banditry can be carried out. Therefore, those who want to flee their country must think twice; and those who have allocated a large amount of assets overseas also need to take corresponding countermeasures in advance.
