An important article in the South China Morning Post (Hong Kong). One may wonder how much of this money has ended up in real estate in the Metro Vancouver region. We include excerpts relating to Canada.
China sheds light on its quest to track down fleeing officials:
Communist Party’s anti-graft agency reveals how hundreds of suspects and their offshore assets were brought back to the mainland
(Cary Huang, South China Morning Post, 18-Mar-2015)
Excerpts: A powerful mainland task force has revealed in detail for the first time how it tracked down allegedly corrupt fugitives abroad, bringing the suspects and their assets back to China even in the absence of extradition treaties. The revelations come as President Xi Jinping steps up his crusade against graft in the Communist Party, military and official ranks. The Ministry of Public Security launched “Operation Fox Hunt” last year to track down fleeing officials and since then more than 500 fugitives with over 3 billion yuan (HK$3.8 billion) in assets offshore have been returned to China, according to the authorities.
… One of the operation’s biggest problems is tracking down fugitives in the United States, Australia and Canada, which are attractive destinations for fleeing officials because they do not have extradition treaties with China.
…. Western governments have long been reluctant to hand over suspects because of a lack of transparency and due process in China’s judicial system. But China has pressed the US, Australia and Canada to do more to help them bring fugitives to justice….