A court in the UK has ordered the seizure of over $12.4 million and various properties from former officials of Russia’s Presidential Property Management Department. These officials are accused of transferring state assets to relatives and private investors. In a separate case, Chinese nationals Tian Wenjun and Hao Jiangbo, suspected of fraud involving 262.5 billion yuan (approximately $37.7 billion) and money laundering, have agreed to forfeit two student accommodation blocks in Coventry and two luxury residential properties in Hampstead, London. Additionally, Tian Wenjun, who is alleged to be the mastermind behind a $36.8 billion banking fraud in China, has reached a settlement with British law enforcement, agreeing to hand over properties and cash totaling $15.3 million. This settlement follows the seizure of assets from Tian Wenjun, the former richest man in Shanxi Province, and his wife. In a related case, a woman who targeted Chinese students has been fined $3.3 million by the British Columbia Securities Commission.
Woman who preyed on Chinese students fined $3.3-million by BC Securities Commission https://t.co/ZPJs2Bcr4e
This is a never-heard-of case: Former Richest Man in Shanxi Province, China, Has $15 Million in Assets Officially Seized by the UK After reaching an agreement with UK investigative authorities, the assets of Tian Wenjun, the former controller of the "Deguo Group," and his wife,… https://t.co/jbKftxtT97
The alleged mastermind of a $36.8 billion banking fraud in China who fled to the U.K. has agreed to hand over properties and cash amounting to $15.3 million as part of a settlement with a British law enforcement agency. https://t.co/k18DEGnUnP