Financial Crime · Full chronicle and history

Tomorrow Holding boss Xiao Jianhua was cross-border taken back to the mainland from the Four Seasons Hotel in Hong Kong by state security (MSS) personnel, and his massive network of proxy-held and money-laundering assets began to be investigated.

The Central Commission for Discipline Inspection (CCDI) announced that Sun Lijun, Vice Minister of Public Security who once oversaw Hong Kong, Macao, and Taiwan affairs as well as cross-border law enforcement, is under disciplinary review and supervisory investigation for suspected severe violations of discipline and law.

Procuratorates in Dongguan, Guangdong issued a Red Notice for Huang Youlong through Interpol. Huang Youlong was arrested immediately upon landing in Bordeaux, France, after arriving on a private jet from Iceland.

Alvin Chau (also known as "Sikit Wah"), founder of Macau gaming junket giant Suncity Group, was arrested in Macau and later sentenced to 18 years in prison.

Macau's Court of Final Appeal delivered its final verdict in the Alvin Chau case, sentencing him to 18 years in prison and confiscating all illegal proceeds for the Macau SAR government.

The High Court of Hong Kong delivered its verdict in the case where Choi Yat-fung sued Huang Youlong to recover over 100 million Hong Kong dollars in agency fees and interest. Choi Yat-fung lost the lawsuit, which inadvertently exposed a capital flight network of the elite.

The US Treasury Department sanctioned Turkey's Golden Global Bank and its subsidiaries, accusing them of providing money laundering and correspondent banking services for oil trade between the Iranian Revolutionary Guard and the Chinese Communist Party, cutting off Iran's financial lifeline in Turkey.

In a joint operation, the Hong Kong police and the Independent Commission Against Corruption (ICAC) charged 7 individuals, including representatives from two contractors, Hung Ngai and Wang Yip, with a total of 25 counts in connection with the Wang Fuk Court fire case in Tai Po. The suspects were charged in court with manslaughter, conspiracy to defraud, money laundering, and other offenses, and were remanded in custody.

Following the major fire, the Hong Kong government suddenly announced it would spend 6.8 billion HKD in public funds to completely buy out the property rights of over 1,700 disaster-affected households in Wang Fuk Court, demolish the buildings, and convert the site into a park, sparking public suspicion that this is an effort to destroy evidence of engineering corruption.

At the Beijing Politburo meeting the day after the Hongfuyuan fire, CCDI Secretary Li Xi presented irrefutable evidence of Ma Xingrui's corruption, and he was placed under isolated investigation on the spot.

After undergoing a series of legal procedures in a Thai prison, She Zhijiang was eventually extradited back to China to face charges.

She Zhijiang, founder of the Yatai New City project in Myawaddy, was taken away by Thai police in Bangkok based on an Interpol Red Notice during a dinner gathering.

After a French court rejected the extradition of Huang Youlong, Zhao Wei was completely banned across the entire mainland internet, with her social media accounts suspended and multiple film and television works removed.

The China Securities Regulatory Commission (CSRC) issued a warning to Zhao Wei and her husband, fined them 300,000 yuan each, and imposed a 5-year securities market ban.

Zhao Wei's shell company Longwei Media signed a share transfer agreement with Wanjia Culture, attempting to acquire control of Wanjia Culture with high leverage, which ultimately terminated due to financing failure.

Huang Youlong borrowed 60 million euros (approximately HK$280 million) from the Sun City VIP room at Crown Casino in Australia and lost it all within six days, effectively completing overseas money laundering and settlement through casino accounts.

Zhao Wei and Huang Youlong invested HK$3.1 billion to acquire a 9.18% stake in Alibaba Pictures. Confidential documents show that the funds were provided by Xiao Jianhua's Tomorrow Holding, with the couple acting as proxy holders.

Qi Qiaoqiao, the elder sister of Xi Jinping, and her husband Deng Jiagui sold their 50% stake in a Beijing investment company to a company founded by Xiao Jianhua, removing their names from the assets.

On June 12, 2010, Li Tucun, the former president and chairman of the board of the former Hunan Taizunai Group, who once pioneered the golden age of Chinese lactic acid bacteria beverages and twice won the CCTV 'Advertising King' title, was formally placed under criminal detention by the Zhuzhou Public Security Bureau of Hunan Province for suspected illegal absorption of public deposits. On July 20 of the same year, his arrest was approved by the Zhuzhou prosecutorial owns. Previously, the Taizunai Group had experienced a broken capital chain due to the Hunan financial storm of 2008 and the gambling agreement crisis with investment banks during its rapid expansion. To save itself, the group had raised funds from employees and distributors as payment reserves. In 2009, the Zhuzhou municipal government led the establishment of Gaoke Dairy Industry to implement trusteeship. During this period, Li Tucun and the trusteeship group and local officials had a heated conflict over corporate control and restructuring plans. After being detained for approximately 15 months, the Tianyuan District People's Procuratorate of Zhuzhou City issued a 'Non-Prosecution Decision' on January 20, 2012, ruling that his borrowing was of the nature of private lending and corporate financing, and did not constitute a crime. Li Tucun was eventually releaseds without charge.