Dec 13, 2022 09:08 PM

FINANCE

Chinese Property Tycoon Arrested in London for Suspected Graft

By Wang Jing, Zhang Erchi, Bin Yuxuan and Zhang Ziyu

Zhang Li, co-chairman of R&F Properties. Photo: VCG

Zhang Li, co-chairman of R&F Properties. Photo: VCG

Co-founder of Chinese developer Guangzhou R&F Properties Co. Ltd. Zhang Li has been arrested in London and is wanted in the U.S. over allegations of bribing San Francisco officials to secure permits.

Li, also the co-chairman and CEO of Hong Kong-listed R&F, allegedly “provided kickbacks and funds to co-conspirators in order to obtain the appropriate permits for a construction project,” according to a court listing cited by Bloomberg. He was arrested on Nov. 30.

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