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[Caixin Media] Hotel Investor In Yap Under Investigation For Corruption In China

 

News Release

Caixin Media
Beijing, China

April 28, 2013

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A Sichuan property developer is being investigated by Chinese Communist Party anti-corruption officials, a source close to the situation says.

The third billionaire to come under such scrutiny in the province this year, Deng Hong is chairman of Chengdu Exhibition & Travel Group which wants to build a 4,000-room casino-and-golf resort in Yap.

Deng was questioned in December by anti-corruption officials in connection with an investigation of Li Chuncheng, the former mayor of Chengdu. The inquiry related to Li has to do with “serious violations of the law,” the party’s Central Discipline Inspection Commission said.

“The last time (Deng) was asked to assist in the investigation, but this time he is the target,” the source close to the investigation said.

Deng is a well-known businessman in Sichuan who operates a wide range of exhibition and property projects across the southwestern province.


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