Ex-village chief’s 132 city homes
Print Edition
A FORMER village Party chief in China’s Zhejiang Province amassed a portfolio of 132 properties in Shanghai, it has emerged.
The property empire of the 60-year-old former Longgang Town official, surnamed Li, came to light during legal disputes, the Modern Gold Express reported yesterday.
Li is also accused of 18 cases of private lending involving 77.85 million yuan (US$12.65 million).
He was brought to court in Wenzhou City in June on charges of not repaying 1.42 million yuan borrowed from a man surnamed Gao. In August, Li was ordered by the court to return the money, but didn’t.
Gao then told the court about Li’s properties in Shanghai’s Songjiang District. Gao said Li was given the properties by a businessman in lieu of a loan.
The court confirmed that what Gao said was correct.
The newspaper said Li’s properties have been mortgaged for 70 million yuan. It was unclear whether Gao got his money.
The court has yet to return a verdict on Li’s charges of illegal money lending.
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