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They are a singapore company jurisdictian wise, whole city is by now just a chinese front, to avoid the embargos and hostilitys of us and chinese relations. (S
by qikInNdOutReply 4y ago
They are a singapore company jurisdictian wise, whole city is by now just a chinese front, to avoid the embargos and hostilitys of us and chinese relations.
(Similar to vietnam as final assembly place for cellphones, to avoid made in china).
So its a party company, out there to keep a eye on the syphoning of funds out of china by the rich.
Former founder "vanished" like so many not party animals.
- from 4y agoSo... China which tries to stop capital flight for some reason also secretly supports technology that results in capital flight and dollarization?
- stevehawk 4y agoI'm just playing devil's advocate here but - If you control the people that run the capital flight operation, then you control who can flight capital. That may be appealing to you if you're a high enough power and want to be able to move your capital but not let the peasants do it.
- qikInNdOutReply 4y agoPartial escape makes all those bribes and paid money for loyalty worth anything. Otherwise, there is no justice system, so even a billionaire can vannish over night, making all the money in the world worthless. What good is it to be a party official, if you can not garantee that your children and spouse are in safety and better off at least.
- gautamdivgi 4y agoNot sure about the China angle, but if he's in Singapore he may be safe. Allegedly the Singapore-US extradition does not cover money laundering [0]. Although, I'm not sure if this will count as Fraud or Money Laundering. [0]: https://2009-2017.state.gov/j/inl/rls/nrcrpt/2016/vol2/253428.htm https://2009-2017.state.gov/j/inl/rls/nrcrpt/2016/vol2/25342...