13.5 Tons of Gold Worth $636 Million Found Hidden in Chinese Official’s Home
By Bryan Ke
October 2, 2019
A 58-year-old Chinese official and member of the provincial and municipal party committees from Haikou city, Hainan province, China is under investigation after officers discovered tons of hidden gold inside his home.
Corruption inspectors conducted a raid in Zhang Qi’s home earlier this month and found a vast amount of riches, including thousands of gold bars and bricks weighing 13.5 tons and valued up to 520 million British Pounds ($636 million), according to Daily Mail.
Inspectors also found 268 billion yuan ($37.4 billion) of suspected bribes on Zhang’s account. There were also cash, antiques, and evidence of a huge portfolio of luxury estates in his house, RT reported.
Zhang, the secretary of the Communist Party Committee of Haikou and member of the Standing Committee of Hainan Province, had both of his titles revoked by the Commission for Discipline Inspection of the Central Committee of the Communist Party of China after this discovery.
China’s watchdog had reportedly issued a statement on September 6 saying the former official was suspected to have violated the law.
Officials who are convicted of “economic crimes” or corruption in the country could face the death penalty.
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