Paradise Papers Reveal Son-in-Law of Former Bank of China Governor Had Murky Stock Dealings

Paradise Papers Reveal Son-in-Law of Former Bank of China Governor Had Murky Stock Dealings
Dai Xianglong, Chairman of China's National Council of Social Security Fund, speaks during the International Finance Forum (IFF) 2011 Annual Conference at China World Trade Center Tower 3 on Nov. 9, 2011 in Beijing. VCG/VCG via Getty Images
Frank Fang
Updated:

This is version 2.0 of the Panama Papers. The International Consortium of Investigative Journalists (ICIJ) has published findings from another batch of leaked documents, called the Paradise Papers, showing how the richest in Europe, North and South America, Asia, Africa, and the Middle East have used offshore accounts to hide their wealth or shift their money around in secret—activities that are considered legal, but are a slap in the face to their respective countries’ taxation systems.

In China, the Paradise Papers revealed that Che Feng, son-in-law of Dai Xianglong, the former governor of China’s central bank, had, through a complicated set of transactions, ended up with HK$114 million (about US$14.6 million) in preferred stocks through his offshore company registered in the British Virgin Islands, between 2009 and 2013.

Frank Fang
Frank Fang
journalist
Frank Fang is a Taiwan-based journalist. He covers U.S., China, and Taiwan news. He holds a master's degree in materials science from Tsinghua University in Taiwan.
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