Sunday, March 30, 2014

Fish rots from the head

Especially if it is as regimented as the Chicoms. Unfortunately the good times will now come to an end and the last man Zhou will see is the hang-man.

And if people ever want to understand what crony capitalism is this would be a text book example.

Head spy is a good job to have (if you can get it). Total assets of $14.5 Bil is not bad at all.

It would be nice to know here did he stored all the money?
Due to stringent regulations, Chinese prefer storing (ill-gotten) money in mattresses- this (poor) lady lost $65k in all, when termites developed a taste for Yuans.

In all the gallons of ink that will be now spent on this man the most important question will remain un-answered: how many rhinos (and tigers and..) have been laid waste because of the boss's long term plans to keep his young ladies happy?
Chinese authorities have seized assets worth at least 90bn yuan ($US14.5bn) from family members and associates of retired domestic security chief Zhou Yongkang, who is at the centre of China's biggest corruption scandal in more than six decades, two sources said.

More than 300 of Zhou's relatives, political allies, proteges and staff have also been taken into custody or questioned in the past four months, the sources told Reuters. 

Prosecutors and the party's anti-corruption watchdog had frozen bank accounts with deposits totaling 37bn yuan and seized domestic and overseas bonds with a combined value of 51bn yuan after raiding homes in Beijing, Shanghai and five provinces.

Investigators had also confiscated about 300 apartments and villas, antiques and contemporary paintings and more than 60 vehicles, the sources added. Other items seized included expensive liquor, gold, silver and cash in local and foreign currencies. According to the sources, the seized assets had a combined value of at least 90bn yuan

Zhou, 71, has been under virtual house arrest since authorities began formally investigating him late last year. He is the most senior Chinese politician to be ensnared in a corruption investigation since the Communist Party swept to power in 1949.

"It's the ugliest in the history of the New China," said one of the sources, who has ties to the leadership and has been briefed on the investigation.

Zhou rose through the ranks of China's oil and gas sector before joining the elite politburo standing committee in 2007, where as domestic security chief his budget exceeded defence spending. He retired in 2012 and was last seen at an alumni event at the China University of Petroleum on 1 October.

The first two sources added that more than 10 of Zhou's relatives had been detained. They included Zhou's one-time television reporter wife Jia Xiaoye, his eldest son from a previous marriage Zhou Bin, Zhou Bin's in-laws and Zhou Yongkang's brother. About 10 officials who held a rank equivalent to at least vice minister were also under investigation, the sources said.

More than 20 of Zhou's bodyguards, secretaries and drivers had also been detained, the sources said. Many other family members and associates had been questioned. 


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