China's latest and most lurid graft scandal made the cover of the May 14 issue of Time magazine. The story deserved to be there. It's about massive corruption, betrayal, and murder. And it raises questions about China's future.
Before Time magazine's cover, our sister publication, the China Compliance Digest (CCD), was on the story. It carried an item headlined: 'Bribery Made Bo Xilai a Billionaire, Authorities Say Ill-gotten gains allegedly hidden by family members, stashed overseas.'
The story said 'disgraced politician Bo Xilai netted a total of several billion yuan in bribes throughout his career. . . Bo may have amassed one billion yuan (US$160 million) in payoffs from promotion-seeking government officials in Chongqing, the megalopolis where Bo was party chief until his removal in March 2012.'
Another CCD story said, 'Gu Kailai, wife of former Chongqing Party secretary Bo Xilai, has been arrested by Chinese authorities in connection with the mysterious 2011 death of Neil Heywood, a British member of the Bo family's inner circle of friends and advisors. . . . Bo and Gu have not been seen in public since Bo was stripped of all official posts last month. Gu is being held by authorities on suspicion of murdering Neil Heywood, a British national who some suspect was involved in the Bo family's overseas money transfers.'