zerohedge | We now introduce you to someone who may be one of these rich kids' dad.
Or rather was, because Gang Yuan, a 42-year-old mining tycoon is no
longer alive. His corpse was found chopped into 100 pieces in his Vancouver home.
According to a civil lawsuit, Yuan came to Canada in 2007 with permanent
resident status and made his money by investing in real estate and
Saskatchewan farmland, in the process becoming the owner of a at least
one abandoned multimillion-dollar Vancouver home... and much more.
As The Province reports,
Yuan has been linked to a government corruption scandal in southwestern
China. He is also a shining example of how most of the billions in hot
money flooding Vancouver real estate funds are sourced: illegally. This
story helps to shed some light on the origina of at least a modest
amount of that money.
The scandal led to a 19-year jail term for Yunnan province official
Lin Yunye. Yunye was jailed last November for selling $234 million in
state mining assets to a number of businessmen from whom he accepted
tens of millions in bribes - including gold bars, luxury watches and rhinoceros horns.
The full details follows:
Yunnan, where Yunye was deputy director of land and resources, is a
province of lush, bamboo-covered mountains. It is also known as China’s
gem-trading hub because of its border with Myanmar, a failed state with
bounties of ruby and jade stones that are illicitly smuggled into
Yunnan.
Gem exchanges, $50,000 gold bars, a $500,000 bribe, and deals
benefiting two Vancouver-area tycoons feature in the lengthy record of
charges proven against Yunye in Yunnan Provincial Court. The verdict
states Yunye abused his power from 2007 until his arrest in 2014.
