NewzHong Kong’s Independent Commission Against Corruption has charged Zhang Yadong, the former head of Greentown China, with accepting approximately HK$20 million (US$2.5 million) in bribes. According to the charges, Zhang allegedly took the money from a mainland Chinese property developer in exchange for facilitating the acquisition of a stake in a real estate project.
The case underscores ongoing anti-corruption enforcement involving senior executives in the mainland and Hong Kong real estate sectors. Zhang, 5, faces serious legal scrutiny following the corruption watchdog's intervention regarding the property transaction.
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