Dai Yongge in trouble with Chinese government

[Millsy]

HNA loves it.

More users, more footfall, more comments, more threads, more hits.

All good for business so they're complicit.

[PistolPete]

This casino money laundering thing..... if Reading FC were to gamble a few thousand quid at a casino and to get lucky and come out with a few million, would that be okay under FFP rules? - club invests money, club receives a return?

[Westwood52]

I’m all a bit confused by this. Is this a smoking gun we should be worried about or just what we know that many football club owners have questionable dealings with their money?

No point us being worried, we have no control over any of it.
There’s been no hint of them being anything other than straight in terms of their dealings with us.
Major plus is the sister is British and I think most of their wealth is in her name.
I would expect almost any wealthy person has skeletons in their closet, not criminal necessarily but you inevitably make enemies as you make money.

Interesting.Because of the UK tax rules,being a Non Dom is useful;she is likely to have parked most of her money somewhere nice.That said HMRC in the last few years have got a lot tougher on Non Dom’s.As OMA has intimated I am lazy when it comes to research,and it is only recently I became aware she is a Brit.I always assumed the pair of them did not come to many games,because of our UK tax rules on residence.Clearly this is not the case with her.It has been a puzzle to me as to why our last three owners bought into RFC.I always assumed that the Dai s reason was they wanted to park money away from China.But this might not be the reason.Anybody have any ideas regarding why the Dai s invested in the Club in the first place ?

[Nameless]

I’m all a bit confused by this. Is this a smoking gun we should be worried about or just what we know that many football club owners have questionable dealings with their money?

No point us being worried, we have no control over any of it.
There’s been no hint of them being anything other than straight in terms of their dealings with us.
Major plus is the sister is British and I think most of their wealth is in her name.
I would expect almost any wealthy person has skeletons in their closet, not criminal necessarily but you inevitably make enemies as you make money.

Interesting.Because of the UK tax rules,being a Non Dom is useful;she is likely to have parked most of her money somewhere nice.That said HMRC in the last few years have got a lot tougher on Non Dom’s.As OMA has intimated I am lazy when it comes to research,and it is only recently I became aware she is a Brit.I always assumed the pair of them did not come to many games,because of our UK tax rules on residence.Clearly this is not the case with her.It has been a puzzle to me as to why our last three owners bought into RFC.I always assumed that the Dai s reason was they wanted to park money away from China.But this might not be the reason.Anybody have any ideas regarding why the Dai s invested in the Club in the first place ?

He likes football ?
He owns a Chinese club and they did own a Belgian club and I believe he has or had a role in the Chinese FA. When he have a lot of money you can indulge your hobbies ! I seem to recall an issue a while back with player wages not being paid because of an error transferring money from a Chinese bank which suggests they are using funds from there at least partially.
But who knows, why do any owners throw money into clubs.

[Forbury Lion]

Anybody have any ideas regarding why the Dai s invested in the Club in the first place ?

I believe it all goes back to the story how a crate of unsold Huntley and Palmers commemorative Reading FC biscuits destined for India (see the Bombay Royals story) washed up on the shore of a small fishing village in China and into the hands of a member of the Dai familly who decided to cash in by selling the biscuits to tourists and the tins to fishermen. Soon all the biscuits were sold, leaving them with half a shipping container of biscuit tins. The younger Dai family members used to built castles from these and would where possible wear blue and white hoops like their biscuit tin idols.
Fast forward around half a century and the Dai family still idolise the knights in blue and white and with a few quid to spare, have bought theirselves a castle here at the Madejkski.

Speaking of China, the players might want to pick their squad numbers wisely

In China, lucky numbers have pronunciations that are similar to words with lucky meanings. Number 8 holds huge significance as a lucky number. To a lesser extent 2, 6, and 9 are considered lucky. 4 is the most unlucky number in China.

[elrey]

“According to the report, the National People's Congress such as Dai Yongge, Jiang Mei and others engaged in illegal fund-raising and money laundering activities, plundering and transferring more than 100 billion illicit funds. (Composite picture)
According to the report, the National People's Congress such as Dai Yongge, Jiang Mei and others engaged in illegal fund-raising and money laundering activities, plundering and transferring more than 100 billion illicit funds. (Composite picture)
The Dai Yongge mentioned in the live broadcast by Guo Wengui was the owner of Harbin Renhe Real Estate who started his career as a nightclub. In fact, he was the "white gloves" of the Zeng Qinghong family.

Overseas Chinese media previously disclosed that in the early years, Zeng Qinghong’s daughter-in-law Jiang Mei and Dai Yongge cooperated to "get huge rebates from the subway project"; the two also opened underground banks under the guise of "acceptance bill business" for senior officials and mainland tycoons. Transfer assets overseas and launder hundreds of billions of money.

According to reports, in the 1990s, Dai Yongge used his relationship with Shao Bing, the son of Shao Qihui, governor of Heilongjiang, to set up an "imperial nightclub" and made big money in Harbin's pornography, gambling, and drug business. Dai Yongge, who had many murders, went to Beijing, Guangdong, Hunan, Guizhou, Shanghai, Australia, the United Kingdom and other places after "some capital accumulation."

Later, Dai Yongge met Zeng Qinghong’s son Zeng Wei through the popular CCTV host Jing Yidan while in Beijing. Dai then purchased and renovated Zeng Wei into a luxury villa in Australia, and also transferred 40% of Renhe Group's shares to Zeng Wei's wife Jiang Mei for free.

And the huge returns it received were "metro projects in more than a dozen cities in China including Guangzhou, Shenzhen, Changsha, Guizhou, Hangzhou, Shanghai, and Harbin." Jiang Mei used the identity of a shareholder to pave the way for Dai Yongge's skillful grabbing and collecting money. Only by contracting and transferring subway projects across the country, the rebates will make a lot of money.

The report quoted Dai Yongge's sister Dai Yongli as saying, "My brother made more than 30 billion euros in domestic subway projects through Jiang Mei and Zeng Wei."

According to the report, in 2010, Dai Yongge turned to Macau casinos as a huge money laundering machine to help the CCP's powerful and powerful laundering money. To this end, Dai Yongge discussed with Jiang Mei to set up an underground bank in China to specialize in the transfer of assets of high-ranking officials and wealthy mainlanders overseas. According to reports, if a person deposits 10 billion, the Dai family will receive at least 100 million, of which 40 million will be credited to Jiang Mei.

Because Dai Yongge, Jiang Mei and others used a large number of government officials to get rich, eager and ignorant, they carried out illegal fund-raising and money laundering activities in Shenzhen, Zhuhai, Dalian, Beijing, Shanghai, and Changsha, looting and transferring more than 100 billion illicit funds.“

Source: https://hk.epochtimes.com/news/2020-07- ... hFe4MXhg9o

So, Tianjin Quanjian (Chu-an-jee-en for Chinese pronunciation) got promoted to the Super league in 2017, then to the Asian Champions League the next season. Now they don't exist. Shu Yuhui got arrested for doing dodgy stuff. "Chinese authorities on Monday announced the arrest of the chief executive of health care product maker Quanjian Group and more than a dozen employees on suspicion of false marketing and operating pyramid schemes."

https://www.scmp.com/news/china/society ... -marketing

Basically, if you're on the wrong side, you then get in trouble with the CCP and then you're automatically guilty. You'll lose everything. I'm not sure if anyone that high up who gets accused of anything will actually not be found guilty. They just need time to decide how story they're going to use to lock the guy up. Assuming of course the information is correct that he's been targeted in the first place.

[CountryRoyal]

Anybody have any ideas regarding why the Dai s invested in the Club in the first place ?

I believe it all goes back to the story how a crate of unsold Huntley and Palmers commemorative Reading FC biscuits destined for India (see the Bombay Royals story) washed up on the shore of a small fishing village in China and into the hands of a member of the Dai familly who decided to cash in by selling the biscuits to tourists and the tins to fishermen. Soon all the biscuits were sold, leaving them with half a shipping container of biscuit tins. The younger Dai family members used to built castles from these and would where possible wear blue and white hoops like their biscuit tin idols.
Fast forward around half a century and the Dai family still idolise the knights in blue and white and with a few quid to spare, have bought theirselves a castle here at the Madejkski.

Speaking of China, the players might want to pick their squad numbers wisely

In China, lucky numbers have pronunciations that are similar to words with lucky meanings. Number 8 holds huge significance as a lucky number. To a lesser extent 2, 6, and 9 are considered lucky. 4 is the most unlucky number in China.

Yep. A lot of lifts don’t have a “4th” floor.

[Forbury Lion]

Anybody have any ideas regarding why the Dai s invested in the Club in the first place ?

I believe it all goes back to the story how a crate of unsold Huntley and Palmers commemorative Reading FC biscuits destined for India (see the Bombay Royals story) washed up on the shore of a small fishing village in China and into the hands of a member of the Dai familly who decided to cash in by selling the biscuits to tourists and the tins to fishermen. Soon all the biscuits were sold, leaving them with half a shipping container of biscuit tins. The younger Dai family members used to built castles from these and would where possible wear blue and white hoops like their biscuit tin idols.
Fast forward around half a century and the Dai family still idolise the knights in blue and white and with a few quid to spare, have bought theirselves a castle here at the Madejkski.

Speaking of China, the players might want to pick their squad numbers wisely

In China, lucky numbers have pronunciations that are similar to words with lucky meanings. Number 8 holds huge significance as a lucky number. To a lesser extent 2, 6, and 9 are considered lucky. 4 is the most unlucky number in China.

Yep. A lot of lifts don’t have a “4th” floor.

I'd like to think they have a 3 1/2 floor similar to the floor in the film Being John Makovick.

[Nameless]

I believe it all goes back to the story how a crate of unsold Huntley and Palmers commemorative Reading FC biscuits destined for India (see the Bombay Royals story) washed up on the shore of a small fishing village in China and into the hands of a member of the Dai familly who decided to cash in by selling the biscuits to tourists and the tins to fishermen. Soon all the biscuits were sold, leaving them with half a shipping container of biscuit tins. The younger Dai family members used to built castles from these and would where possible wear blue and white hoops like their biscuit tin idols.
Fast forward around half a century and the Dai family still idolise the knights in blue and white and with a few quid to spare, have bought theirselves a castle here at the Madejkski.

Speaking of China, the players might want to pick their squad numbers wisely

Yep. A lot of lifts don’t have a “4th” floor.

I'd like to think they have a 3 1/2 floor similar to the floor in the film Being John Makovick.

No, there is just a floor sized void. How floors 5 and above stay up I have no idea.
Clever these Chinese....

[CountryRoyal]

Yep. A lot of lifts don’t have a “4th” floor.

I'd like to think they have a 3 1/2 floor similar to the floor in the film Being John Makovick.

No, there is just a floor sized void. How floors 5 and above stay up I have no idea.
Clever these Chinese....

If ever you’ve seen mainland Chinese architecture and construction, you’ll realise they don’t

[Nameless]

I'd like to think they have a 3 1/2 floor similar to the floor in the film Being John Makovick.

No, there is just a floor sized void. How floors 5 and above stay up I have no idea.
Clever these Chinese....

If ever you’ve seen mainland Chinese architecture and construction, you’ll realise they don’t

I once sat and watched a gang of Chinese labourers dismantling scaffolding on a new building which must have been about 10 stories high.
The scaffolding was bamboo poles roped together and they were climbing it and untying it with no safety ropes at all and passing the poles down hand to hand.
Hardly any of them fell off, amazingly.

[CountryRoyal]

No, there is just a floor sized void. How floors 5 and above stay up I have no idea.
Clever these Chinese....

If ever you’ve seen mainland Chinese architecture and construction, you’ll realise they don’t

I once sat and watched a gang of Chinese labourers dismantling scaffolding on a new building which must have been about 10 stories high.
The scaffolding was bamboo poles roped together and they were climbing it and untying it with no safety ropes at all and passing the poles down hand to hand.
Hardly any of them fell off, amazingly.

That time haha. It’s crazy though bamboo scaffolding shocks the western world but it’s actually super effective and much more resistant to weather. Because it flexes storms and strong winds are less likely cause damage. Cheaper too. Everyone wins, apart from the pandas I guess.

[leon]

If ever you’ve seen mainland Chinese architecture and construction, you’ll realise they don’t

I once sat and watched a gang of Chinese labourers dismantling scaffolding on a new building which must have been about 10 stories high.
The scaffolding was bamboo poles roped together and they were climbing it and untying it with no safety ropes at all and passing the poles down hand to hand.
Hardly any of them fell off, amazingly.

That time haha. It’s crazy though bamboo scaffolding shocks the western world but it’s actually super effective and much more resistant to weather. Because it flexes storms and strong winds are less likely cause damage. Cheaper too. Everyone wins, apart from the pandas I guess.

Yeah saw this in Hong Kong - years back. Biodegradable (kind of)

[Millsy]

I'd like to think they have a 3 1/2 floor similar to the floor in the film Being John Makovick.

What a classic film. That restaurant scene where everythign on the menu is Malkovich, he shouts Malkovich and the waiter pauses just the right amount of time before writing Malkovich. Quite possibly my favourite mini-pause ever.