Bo’s father-in-law and close friend involved in banker’s casePosted: June 5, 2012
Hong Kong’s Singtao Daily says in its comprehensive report that Yang Kun, the vice president of the Agricultural Bank of China (ABC) under investigation by the Central Disciplinary Commission, is said to have huge unaccountable assets and been involved in many cases. Besides the huge loan of 3 billion yuan (US$555 million) to Beijing commercial property project Solana, Yang is suspected to be close to Bo’s father-in-law Lieutenant General Gu Junshan, former deputy director of PLA Logistic Department, and involved in the case of Dalian Shide’s boss Xu Ming, who was closely related to former Chongqing Party boss Bo Xilai.
According to caixin.com, Yang’s case is found quite complicated through about 10 days’ investigation and there is rumor of his involvements in Xu Ming’s and Gu Junshan’s cases, but no details are given in the report.
Defense Military’s website says Gu has “departed” from his post and some sources say that Gu, who was in charge of capital construction, was removes from his post on the eve of the Chinese lunar new year for economic irregularities.
Xu Ming, chairman of the board of directors of Dalian Shide Group, is said to have been taken away for investigation of his involvement in Bo Xilai’s case. Xu is closely related to Bo and his Shide Group rose when Bo was in charge of Dalian and Liaoning. Some people even regard Xu as the source of Bo’s money.
Sources say that Wang Yaohui’s Beijing commercial property project Sonala has been losing money for years since it went into operation in 2008 and needs lots of funds as it has a large area of land exceeding 11 hectares. Yang is perhaps involved in ABC’s provision of a 10-year property operation loan amounting to about 3 billion yuan.
Last April, rumor about the whereabouts of the loan raised great concern in the ABC and the relevant responsible person told Yang to recover the loan, but Yang delayed the recovery.
People in the banking industry say that the problem is not only the loan alone but also the incidental private transactions. It is said that a certain relative of Yang’s was taken away for investigation not long ago for business transactions with Sonala.
The above-mentioned sources say that since last February, Wang has been taken for investigation by relevant departments several times and found his enthusiasm in excessive gambling and once lost at least 3 billion yuan at a Macau casino. That perhaps triggered the investigation about Yang.
Yang, 54, has worked in the ABC for almost 30 years, was appointed a vice president in 2004 to be in charge of property lending for a long time. He often enjoys food and wine with his customers. High-level sources say that Yang “looks loyal and honest” but is in fact a person who fails to attend his proper duties, but loyal to his friends.