Over 30 million euros embezzled: Chinese millionaire accused of buying Bordeaux

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As The Times magazine recently reported, Chinese millionaire and entrepreneur Qu Naijie (63) is due to stand trial in a Paris court next February. He is accused of purchasing several Bordeaux wineries for 32 million euros. Problem: The money came from the Chinese state and was actually used for investments in digital technologies.

Naijie was a welcome guest in Bordeaux and became a member of many industry associations over the years. She was also active in her home country, organizing a wine festival in her hometown of Dalian in northern China. However, such activities are likely to end for now.

Buying spree using unfair methods

Around 25 wineries and most of the estates were acquired between 2010 and 2013 and their market value is currently said to be €60 million. In addition to the accusation of embezzling state funds, Naijie is also accused of using fake invoices to obtain a 30 million euro loan from the Luxembourg subsidiary of the Industrial and Commercial Bank of China.

Naijie graduated from Liaoning University and is the founder of the Haichang conglomerate, which operates many theme parks, among other things. He also sits on the board of directors of many Chinese companies. According to Forbes magazine, his fortune is estimated at $800 million. Naijie is presumed innocent.

Source : Blick