2015-03-26

Getting Deals Done in Beijing

Tycoon Said to Bring Down a Deputy Mayor, Control Key Beijing Land Deal
Starting late last year, a fight between Peking University Founder Group Co. Ltd. and Beijing Zenith Holdings Co. was ignited by disputes over control and terms of the pair's jointly owned Founder Securities Co.

Amid accusations of fraud and other wrongdoing, the business argument has spilled over into graft charges and led to the detention of top executives from both sides, including Founder Group CEO Li You.

As the investigations unfold, Zenith's founder, Guo Wengui, has entered the spotlight. With 15.5 billion yuan in personal assets, Geo, who is currently living overseas, has been found to be behind several political scandals and controversial business deals over the past years.

No comments:

Post a Comment