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Zhou Yongkang’s son arrested for illegal business operations

Posted by chinaview on July 31, 2014

Zhou Yongkang, former security czar and retired senior Chinese Communist Party (CCP) leader, is now under investigation and prosecution. Reports have confirmed that the Yichang city procuratorate in Hubei province has also arrested Zhou’s son, Zhou Bin, on charges of involvement in illegal business operations. According to sources quoted by U.S.-based media, Zhou Bin recently submitted evidence against his father, and thus, only until now has the CCP decided to announce the investigation and prosecution of Zhou Yongkang.

On the evening of July 29, the CCP officially announced the investigation and prosecution of Zhou Yongkang, ex-member of the Politburo Standing Committee. Mainland China-based business magazine Caijing cited information from authoritative sources confirming that Zhou’s son, Zhou Bin, has been charged with operating illegal businesses and has been arrested by the procuratorate in Yicheng city, Hubei province.

According to reports, 42-year-old Zhou Bin has relied on his father’s massive political influence, and over a few decades, built a vast yet secretive business and political empire in Wuxi city of Jiangsu province. Its boundaries stretch from Beijing to Szechuan, and even extend abroad.

Zhou Bin’s business involves industries such as utilities, oil, travel and investment. It’s supported by Zhong Xu Network, an enterprise run by Sichuan businessman Wu Bing, and other oil enterprises. The net worth of this business empire is worth billions.

China-based senior law professor, Zhao Yuanming, says that, based on previous reports, Zhou Yikang isn’t the only one who benefited from his immense greed. His family and friends have also amassed immense wealth under his political shelter.

Zhao Yuanming: “His son is very active in the financial world. He did a lot of illegal things under Zhou Yongkang’s banner. Of course, many of his crimes have not been exposed, but it’s likely that the authorities already know about them. When Zhou Yongkang falls, their crimes will be revealed to the world.”

Back when Bo Xilai, former Party secretary Chongqing and Zhou Yangkang’s political ally, was dismissed from his post, Zhou’s symbiotic economic relationship with Bo had already been exposed by foreign news media. Zhou Bin made massive profits of over $3.2 billion from this relationship. In a $6.5 billion construction project in Chongqing, Zhou Bin pocketed $1.6 billion.

According to reports, Zhou Bin has 18 real estate properties in Beijing alone. One of them is a mansion worth $32.4 million even before renovations. Zhou Bin has also actively procured the promotion and relocation of various officials in PetroChina networks, Chongqing and Sichuan. He was also involved in the administration of justice and criminal prosecutions where he collected bribes.

In a documented case from the China’s Supreme Court, a police officer scalded a suspect to death with boiling water. Zhou Bin settled this case after receiving a $16.2 million bribe. Zhou Bin was also revealed to have released a gang leader in Gansu who was suspected of murder. For this, he received a bribe of $3.2 million.

On July 30, The New York Times cited a source who said that Zhou Bin has always been the central target in the CCP’s investigation of Zhou Yongkang. Recently, Zhou Bin submitted direct evidence against Zhou Yongkang to CCP leaders. The new evidence has strengthened the consensus among the CCP’s central leadership who have thus decided to officially announce the investigation on Zhou Yongkang.

Former Chinese history professor, Liu Yinquan, says that Zhou Bin’s corruption and lawlessness all these years was all done under Zhou Yongkang’s protection and indulgence.

Liu Yinquan: “Zhou Yongkang busies himself with wine and pleasures for days on end. He visits everywhere, and womanizes wherever he goes. Therefore, he does not have much time to commit to a certain task. I believe that it is his son and his wife who do all the work, such as receiving gifts from officials and taking bribes.”

Hong Kong media have reported that when Zhou Yongkang’s wife Jia Xiaoye was an editor at China Central TV, she once received a large sum of money for someone’s promotion. Bo Xilai has also bribed her before with expensive jewelry. Zhou Yongkang’s trusted aid, ex-official Zheng Shaodong also gave Jia hundreds of millions in bribes for his promotion in Guangdong.

Chinese news website Caixin reports that Jia Xiaoye’s sister Jia Xiaoxia relied on her relationship with Zhou Yongkang and became the long standing chief manager of PetroChina’s Canadian branch, amassing enormous wealth. Zhou Yongkang’s brothers and their families in his hometown have all tapped into Zhou Yongkang’s massive influence to make huge amounts of money from corruption.

Previously, Reuters reported that the procuratorate and the Central Commission for Discipline Inspection searched and investigated various places in five provincial cities including Beijing and Shanghai and seized up to $14.5 billion worth in assets belonging to Zhou’s family and associates. They have also detained or questioned over 300 relatives, confidantes, staff and political allies of Zhou Yongkang.

Reuters’ sources say that more than ten of Zhou Yongkang’s family members have also been detained. They include his wife Jia Xiaoye, Zhou Bin and his wife, Zhou Yongkang’s brothers with their entire families and Zhou Bin’s father in law.

- Source: NTD TV

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