Shao Dongming, CEO of Chinese real estate company Dongding Investment, is being investigated for corruption related to gaming in Macau.
According to Business Insider, the government is looking at $160 million worth of gambling debts Shao has accrued in Macau. According to reports, Shao refused to pay his debts and reportedly even threatened his creditors. China’s NDTV reports that Shao said “anyone creating trouble for him would end up in jail.” As one of Shanghai’s wealthiest businessmen, he has close ties to the mayor of that city, and he has held high-level positions within the Communist Party.
Nevertheless, he is now the subject of a “stringent inspection,” according to the government of President Xi Jinping.
Last month, another influential businessman linked to corruption in Macau was executed along with four of his cronies. Liu Han, 48, onetime chairman of the Sichuan Hanlong Group, reportedly ran a Mafia-style gang along with his brother and several dozen associates, all of whom were arrested in 2013.
The five kingpins were accused of murder, gambling, gun sales, racketeering, vandalism and other offenses. In 2012, Liu was ranked 148th on Forbes’ list of China’s richest people.
