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News Link • China

These Chinese Frauds Could Be Just The Tip Of The Iceberg

•, Craig Tindale
 I also showed that an extraordinary number of the Communist Party and the military cadre had massive unexplained wealth, with the Top 70 recording a net collective worth of over $80 billion. This week Bloomberg was banned by the Chinese government for reporting the incoming presidents families assets at over $367M.
As Xi climbed the Communist Party ranks, his extended family expanded their business interests to include minerals, real estate and mobile-phone equipment, according to public documents compiled by Bloomberg.
Those interests include investments in companies with total assets of $376 million; an 18 percent indirect stake in a rare- earths company with $1.73 billion in assets; and a $20.2 million holding in a publicly traded technology company. The figures don’t account for liabilities and thus don’t reflect the family’s net worth.

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