The rapid transformation of downtown Los Angeles’ skyline is being fueled in good measure by huge investments from Chinese companies eager to burnish their global brands and capitalize on L.A.’s real estate boom.
Now some of those projects have become a focus of federal agents seeking evidence of possible bribery, extortion, money laundering and other crimes as part of a corruption investigation at City Hall.
— Los Angeles Times
The FBI search warrant lists a number of high-profile property developers and real estate companies from mainland China that have considerably shaped the skyline of Downtown Los Angeles with monumental high-rise projects in recent years, such as Shenzhen New World Group, Shenzhen Hazens, Greenland USA, and Oceanwide. No specific charges have been brought forward at this point of the investigation.
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