The illicit funds, held in the United States and Canada, by corrupt Chinese PEPs and business executives, may soon be identified for China, which is interested in recovering this dirty money. A state-run newspaper ion China has asserted that negotiations for information sharing are in process, with both the United States and Canada. There has been no official confirmation from the US, but such maters are typically not publicly commented upon until finalized, to prevent the movement of massive "capital flight" of the illicit wealth.
The use of North American financial institutions by corrupt Chinese PEPs has been well-established. The PEPs also are known to invest their bribe & kickback money into real estate and businesses in North America; China wants that money repatriated. Will the US & Canada cooperate ?
Whether the law will be changed to facilitate extradition of these PEPs to China is doubtful, however, given that China's legal system does not follow the rule of law, and generally convicts criminal defendants, based upon the orders of the Chinese Communist Party leadership, rather than the evidence.
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