The Information Center of the Chinese Human Rights Democratic Movement in Hong Kong revealed today that Shao Zhan, nephew of Chinese President Jiang Zemin, lost over 10 million Yuan RMB (about 1.2 million dollars) that he had illegally invested in the real estate business. The prosecution of Shao, however, encountered various forms of resistance at every turn because of Shao's relationship to President Jiang. The Information Center has appealed to Jiang Zemin to investigate this case and strictly monitor his family members and other relatives, to avoid more scandals of bribery and other corruption.
The Information Center revealed that Shao Zhan is the son of Jiang Zemin's sister, Jiang Zeling. As a result of his real estate trading, Shao owed 11.5 million RMB to the Yangzhou Industrial and Commercial Bank, and was unable to reimburse the money. Therefore, Shao Zhan forged the official stamp of the Yangzhou Gangzhan Real Estate Development, Ltd., and mortgaged 45 houses owned by a Hong Kong businessman, to the Yangzhou Industrial and Commercial Bank. The businessman sued him in Guangling Court last year. Although the court ruled that the official stamp on the House Property Transfer Certificate had been forged, it was forced to declare the case closed, due to extreme pressure from three politically powerful people: Wu Donghua, the Communist Party Secretary of Yangzhou City; Ji Rengui, City Political and Legal Secretary; and Shuai Xiaofang, the Director of the Yangzhou Middle Level People's Court. To date, this case remains unresolved. Shao Zhan has never been punished, and the Hong Kong businessman has yet to get his houses back.
The Information Center quotes from news personnel that for more than ten years, Shao Zhan has utilized his status as Jiang Zemin's nephew to trade in real estate and stocks, and to invest in entertainment enterprises. Shao has been the CEO of Yangzhou Grand Mansion, the owner of Tianzhan Entertainment City, and has been a member of the Board of Trustees of several joint ventures. Shao Zhan also used his status to obtain a loan of 16 million RMB from the North Industrial Group, which has military interests, and then use that money for trading stocks. Shao Zhan now lives in Hangzhou City, Anhui Province, and plans to build new businesses to further his financial interests.
Before his recent visit to Hong Kong to participate in the seventh Fortune Global Forum, the Information Center appealed to Jiang Zemin to investigate his nephew's involvement in these financial scandals.
The Information Center revealed that two members of Jiang Zemin's family are high ranking officials. One is his sister, Jiang Zehui, who, after Jiang Zemin came into power, was promoted quickly from Associate Professor at a forestry college, to the Deputy Director of the People's Representatives Committee in Anhui Province. She is now the Dean of the Mainland Forestry Science Academy, and is ranked as a Minister. The other is Jiang Zemin's son, Jiang Mianheng, who is now the Deputy Dean of the Chinese Science Academy (the rank is equivalent to a Deputy Minister) and also the CEO of Shanghai Lianhe, Inc.
Originated from Boxun Net. May 7, 2001