Despite a corruption crackdown that began in 2012, gargantuan wealth held by state-linked individuals and families continue to make headlines including the latest news of one former official stashing 13.5 tons of gold.
The colossal amount of gold was found in the basement of one Chinese official who was living in Haikou City, Hainan province. In addition to gold, million in cash, antiques and evidence of a large portfolio of luxury properties were found.
The suspected official is reportedly named Zhang Qi, according to local media reports, who is a member of provincial and municipal party committees. He was reportedly undergoing disciplinary review and investigations since early September.
Officials that are convinced of «economic crimes» in China face a maximum penalty of a death sentence.
