Date
18 October 2017

Chinese mining tycoon faces mafia charges, FT says

A Chinese mining tycoon will go on trial in central China on charges of orchestrating mafia-like activities, the Financial Times reported Thursday. Liu Han, chairman of Sichuan-based Hanlong Group, will be tried with 35 others. He was in the process of a A$1.4 billion (US$1.25 billion) bid for Australian-listed Sundance Resources when state media reported last March that he and his wife had been detained. Liu allegedly covered up murders committed by his brother, Liu Wei, who ran gambling rings in their home town, the official Xinhua news agency reported. It said nine people died due to the activities of the gang. Liu Wei has also been charged, the report said. Liu Han was the biggest private entrepreneur in Sichuan province, with investments spanning financing, energy, real estate and mining. He had a fortune of US$650m, according to estimates by Hurun Report which tracks wealthy Chinese.

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