Chinese Estate Developer's Coy Docked for Corruption
Chinese Real Estate Developer’s L.A.-Based Company Found Guilty of Paying Over $1 Million in Bribes to L.A. Politician José Huizar LOS ANGELES – Based on the actions of its agents, including its billionaire Chinese real estate developer owner, a downtown Los Angeles-based company was found guilty today of paying more than $1 million in bribes – including luxury trip expenses, casino gambling chips and a sham loan – to then-Los Angeles City Councilman José Huizar to obtain city approval to build a 77-story skyscraper. After the jury deliberated for less than three hours, Shen Zhen New World I LLC was found guilty of all eight counts it faced: three counts of honest service wire fraud, four counts of interstate and foreign travel in aid of bribery, and one count of bribery. The owner of Shen Zhen – Wei Huang, 57, a resident of Shenzhen, China, who also maintains a residence in San Marino – is also charged in this case, but he has yet to make a court appearance in ...