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« Where exactly is the FCPA guidance? | Main | Subpoena for NCR after whistleblower allegations »
Friday
Oct192012

Guangzhou official caught with 19 undisclosed properties

Authorities have discovered 21 properties belonging to the family of Cai Bin, political commissar of the Panyu (Guangdong Province) urban management and law enforcement bureau.
 
The properties are thought to have a combined market value of more than $6.4 million. Their combined size is said to exceed 7,000 square meters (75,347 square feet).
 
Cai had disclosed only two of the properties as family assets in official reports.
 
Only one of the 21 properties was in Cai’s name. The rest were under the name of his son or his wife, or other relatives.
 
Cai has been suspended from duty and placed under investigation.
 
Professor Zhu Lijia of China National School of Administration said Cai’s case and others like it from recent weeks expose the flaws in China’s assets-declaration system for public officials. “The transparency levels of the declarations are far from satisfactory, the process and contents are not in place, and there are plenty of blind spots preventing proper supervision from the public and media,” Zhu told the press.

Source: Southern Metropolis Daily (南方都市报), China News Service (中新社)

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Benjamin Kessler is a contributing editor of the FCPA Blog and editor of the China Compliance Digest.

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