Kenneth Rijock

Kenneth Rijock

Monday, September 24, 2012

NOTE WELL THE SENTENCE IN CHINA FOR POLICE CHIEF TAKING A BRIBE

The trial


Buried in the Bo Xilai scandal is the 15 year sentence, meted out this week to Mr. Wang, the corrupt police chief who blew the whistle on the murder of a British businessman, notwithstanding what has been described as extraordinary cooperation with the authorities, Of the entire sentence, it is important to note that nine years of the fifteen was pronounced for taking bribes. China obviously is trying to send a blunt message to its civil servants: you engage in corruption at your peril.

I am certain that this little detail has not gone unnoticed in China. Therefore, corrupt Chinese PEPs seeking to deposit criminal proceeds in banks outside of China will go to great lengths to conceal their PEP status from you. Therefore, should all high net-worth Chinese nationals seeking to open an account with you, outside of China, be subject to Enhanced Due Diligence ? The answer is yes.




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