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Man in China owns 132 homes

A former Chinese village head accumulated 132 Shanghai residential properties, reports said.

The latest “House Uncle” – a nickname coined by netizens for male officials with multiple properties – to be identified in a corruption crackdown.

The 60-year-old man, surnamed Li, was previously Communist Party secretary of an unnamed village near Wenzhou.

He now works in the steel and construction material industries, the official Xinhua news agency said on Friday (Nov 5).

His holdings came to light when another individual sued him for failing to repay borrowings, according to government-backed news portal Zhejiang Online.

The properties, described as small flats in Shanghai’s western suburb of Songjiang, were mortgaged for more than 70 million yuan (S$14 million) when they were found and seized by the court, reports said.

The Cangnan county court in Zhejiang province, which heard the case, could not be reached for comment. 

Reports did not say whether Li would face charges over the properties.

Source: AFP

ShanghaiUncategorisedPropertycorruption