Chinese estates in Bordeaux seized in fraud investigation

French fraud investigators have confiscated 10 estates in Bordeaux belonging to the Chinese Haichang Group over alleged financial irregularities involved in their original purchase.

Officers from the Central Office for the Repression of Major Financial Crime (OCRGDF) have frozen the ownership of 10 properties over the course of this year following a four-year-long investigation into the source of the funds used to acquire them.

Although the French organised crime bureau has not named any of the châteaux in question, they are all believed to belong to the Chinese Haichang Group, which is run by Naijie Qu and which acquired 24 châteaux – mostly situated in the Libournais – during a buying spree between 2010 and 2013.

A judge will now examine the OCRGDF’s case and decide the fate of the estates. Operations at each property are said to be running as normal as it is not how they were being run that was under suspicion.

Investigators reportedly began conducting an inquiry into the funds behind the purchase of the châteaux following reports of financial irregularities connected with the Haichang Group back in China.

In 2014 the Chinese National Audit Office accused the company of misspending some US$43 million, although no formal charges were ever filed.

French authorities have been looking into potential instances of fraud, tax fraud, forgery and money laundering in connection with the buying of the estates.

3 Responses to “Chinese estates in Bordeaux seized in fraud investigation”

  1. Mike Beltran says:

    The French appear to take more care of their properties than our President does our country.

  2. Bob Reed says:

    The Chinese have massive US dollars. Check the labels on the products you buy Mike. Trump is bold enough to challenge them. The Chinese are wily crooks who seek advantage wherever.
    The purchase were made in 2010-2013. Who was in charge then?

  3. Paul Barker says:

    This one seems to have been exposed first by Chinese authorities, so good to work with them, rather than against them, where practical. Trump has grown the US deficit severely over recent months, so the US will be even more dependent on Chinese finance, so he’ll probably be kowtowing to them now. Otherwise one’s probably on one’s own on this…and the Interpol boss has been hauled back to China, so not much assistance there! Wonder what he was in trouble over…

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