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China's Billionaire Ex-National Security Chief Investigated For "Serious Disciplinary Violation"

Tyler Durden's picture




 

With an estimated net worth of $14 Billion, Zhou Yongkang, the man formerly in charge of China's vast security apparatus, was one of the nine most senior politicians in China until 2012. But now, as The BBC reports, state media have announced he is being investigated for "serious disciplinary violation", a term usually used to refer to corruption. The news ended months of speculation about his fate as numerous people in his sphere of influence are either under investigation or have been sentenced to death. This move confirms Xi Jinping's determination to root out corruption but could also be seen, given Zhou's influence, as an effort to eliminate a center of power in China's factional political system.

  • *CHINA STARTS PROBE OF EX-SECURITY CHIEF ZHOU YONGKANG: XINHUA

As Bloomberg reports,

Today’s move represents a tightening grip on power by China’s President Xi Jinping, following his appointment as military chief and head of national security and economic-reform panels. It may also represent an effort to eliminate a center of power in China’s factional political system, according to Dali Yang, a professor of political science at the University of Chicago.

 

...

 

“Zhou was a very influential figure who built up a powerful empire, and Xi wants to ensure that the power of the center should not be under threat,” Yang said by phone before the announcement. “By cracking down on corruption and abuse of power, Xi plays to the base in the party.”

 

Investigating Zhou, the nation’s former security chief, sends the signal that even the highest political elite aren’t immune from a campaign to root out the corruption that Xi says threatens the party’s hold on power. Party leaders have promised to target both “tigers and flies” in the power hierarchy.

The BBC profiles the Billionaire...

Zhou Yongkang was one of the nine most senior politicians in China until 2012, but has now fallen from grace.

 

State media have announced he is being investigated for "serious disciplinary violation", a term usually used to refer to corruption. The news ended months of speculation about his fate.

 

Many of his aides and close associates have already been sacked or investigated for allegedly breaching party discipline and other misdemeanours in recent months.

 

 

 

 

Zhou Yongkang also enjoyed a very close working relationship with another very senior fallen politician Bo Xilai, who is now in jail.

 

When Mr Bo was the party boss of Chongqing and launched the "singing red songs and hard crackdown on criminals" campaign to boost his credentials, Mr Zhou showed up in the city in 2010 to sing its leader's praises.

 

Zhou Yongkang married twice, and one of his sons with his first wife is Zhou Bin, born in 1972 and a high-profile oil and gas executive. According to Hong Kong press, Zhou Bin was arrested in December 2013 on corruption charges.

*  *  *

Of course, Xi needs some promise to hold on to as he folded on economic reform by unleashing QE.

 

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Tue, 07/29/2014 - 15:34 | 5019164 KidHorn
KidHorn's picture

This is one way to eliminate the competition.

Tue, 07/29/2014 - 15:39 | 5019187 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

Hitler, Stalin and Mao are all very proud of such politics. 

Tue, 07/29/2014 - 15:47 | 5019230 Publicus
Publicus's picture

Unlike the US where corruption is legalized.

Tue, 07/29/2014 - 15:48 | 5019241 Bill of Rights
Bill of Rights's picture

And " Sovereign Immunity "

Tue, 07/29/2014 - 16:05 | 5019354 SafelyGraze
SafelyGraze's picture

another example of how the middle class is being hollowed out

Tue, 07/29/2014 - 18:59 | 5019953 old naughty
old naughty's picture

"Unlike the US where corruption is legalized."

and the NSA acting similarly to a Central Political Bureau, no?

Next for POTUS to become Chairman...

What, he's already?

Tue, 07/29/2014 - 19:40 | 5020150 XitSam
XitSam's picture

Should have bundled for Obama. Ask Jon, he knows!

Tue, 07/29/2014 - 15:50 | 5019248 Goldilocks
Goldilocks's picture

PolitiZoid - Money for Nothing
http://www.youtube.com/watch?v=_RojRPQq2-Q (4:48)

Tue, 07/29/2014 - 16:07 | 5019359 bob_stl
bob_stl's picture

No kidding. Nobody in the US government even gets fired for felonies, let alone arrested.

Tue, 07/29/2014 - 16:38 | 5019482 Never One Roach
Never One Roach's picture

Watch him excuse himself from the room for a 'toilet break' and sneak out to his limo ... head directly to the airport ... climb aboard his private jet ...  and head out to his verseas Loot.

Tue, 07/29/2014 - 16:42 | 5019486 caconhma
caconhma's picture

Corruption is a deadly cancer. It eventually kills the patient.

Hitler, Stalin and Mao have built great nations.

Nevertheless, both Hitler and Stalin have eventually failed:

·        Hitler failed due to his stupid believe that Nazi Germany can be friends with Zionist-bankers controlled England.

·        As for Stalin, he was a great gangster who was killed by his own inner circle tired of his sadistic repressions.

·        As for Mao, he was the creator of modern China

Tue, 07/29/2014 - 17:10 | 5019584 gmrpeabody
gmrpeabody's picture

"As for Mao, he was the creator of modern China"

Or maybe the one that held it back for an extra 20 years...,

one or the other, anyway.

Tue, 07/29/2014 - 18:04 | 5019780 dochood
dochood's picture

I see your 20, and raise you 20.

Wed, 07/30/2014 - 00:13 | 5021220 earleflorida
earleflorida's picture

hitler, stalin, and the 19th/early 20th century british (perhaps the british alone killed moar innocents than hitler and stalin combined!) empire with churchill (the great POS`plagarizer!)as spokesperson...

mao wasn't close to the japanese in devestation, but Chiang Kai-shek of Taiwan (Formosa) was perhaps guilty of 20 million deaths in china's civil war.

mao made mistakes with the culural revolution, but changes had to happen, and certainly weren't in the grand scale of slaughter as the KMT and Imperialist Japanese under Hirohito who got off scott free because the USSA  had to perform a 'labotomous?faustian`bargain', regarding control of the pacific 

can somebody say chinese containment...

Tue, 07/29/2014 - 15:39 | 5019188 napper
napper's picture

maybe, maybe not.

 

but it's better than no actions at all.

Tue, 07/29/2014 - 15:45 | 5019221 SilverRhino
SilverRhino's picture

$14 Billion and still not safe from the MAN .... sucks to be him.

Guy didn't prepare nearly well enough .... with 14 billion?

  • Move $$$ offshore, spend $500 million setting up trusts, etc ...  FAKE YOUR DEATH. 
  • $1 more billion:  Buy an entire island in the Phillipines, bribe the fuck out of any politicians nearby and maintain a platoon of hard guys for life.
  • Enjoy what a few billion can buy you. 

 

 

 

Tue, 07/29/2014 - 15:47 | 5019240 centerline
centerline's picture

+1.  Must have thought he was invincible.

Tue, 07/29/2014 - 16:56 | 5019549 Bananamerican
Bananamerican's picture

same shit

different country

Tue, 07/29/2014 - 17:10 | 5019576 Hook Line and S...
Hook Line and Sphincter's picture

Almost...   

 

Zhou Yongkang - meet Bodies exhibit

 

Hook Line and Physiology

Tue, 07/29/2014 - 15:57 | 5019301 ugmug
ugmug's picture

I hear that Obama will practice Law after he leaves office. His Harvard Law Degree should prove useful defending corrupt Chinese officials.

 

Tue, 07/29/2014 - 16:08 | 5019368 bob_stl
bob_stl's picture

He'll probably move to China because, the US won't be fit to live in by the time he gets done with it.

Tue, 07/29/2014 - 16:23 | 5019436 random999
random999's picture

so you honestly dont think china got the power to hunt him down no matter offshores and borders? philippines? lol china wishes it had such a good rwason tp sebd down a battlegroup to arrest a corrupt polituan and maybe seize a oilfield or two on the way

Tue, 07/29/2014 - 17:24 | 5019636 ZeroHedgeFan
ZeroHedgeFan's picture

I bet China has capital control. It's not easy to move even millions around. One million may not be that much in the US but that's a ton of money in China. Asian culture has a lot of paranoid about everything. It's easy to do a lot of things here compared to China.

Tue, 07/29/2014 - 15:35 | 5019172 Save_America1st
Save_America1st's picture

well ya know what 'ol Jack Burton says when there's Big Trouble in Little China, don't ya?

Sum Ting Wong

Tue, 07/29/2014 - 15:36 | 5019174 syntaxterror
syntaxterror's picture

Zu Kan Tu
Yes Yu Kan 

Tue, 07/29/2014 - 17:08 | 5019575 Never One Roach
Never One Roach's picture

He Ho Ping and Tiu Phat Tiu Phuk are both in deep water also even though they tried to hide at their freind's house, Long Er Wong. Police spotted them outside as they pretended to wok the dog.

Tue, 07/29/2014 - 15:36 | 5019177 Cthonic
Cthonic's picture

Pure power politics, the game they all want to play here, too.  Right Lois, Eric, Nancy, and gang?

Tue, 07/29/2014 - 15:44 | 5019217 Goldilocks
Goldilocks's picture

Right Change - Attack of the 50 Foot Pelosi
http://www.youtube.com/watch?v=EnHiN6Pwwos (0:30)

Tue, 07/29/2014 - 15:37 | 5019179 napper
napper's picture

Any chance that similar investigation, prosecution, and sentence (a bullet to the back of the head) may happen in the US or the UK against the corrupt and rich politicians, or crooks from Wall St., or the military industrial complex?

 

LOL

Tue, 07/29/2014 - 17:52 | 5019735 Dugald
Dugald's picture

Ahh, perchance to dream

Tue, 07/29/2014 - 15:37 | 5019182 alexcojones
alexcojones's picture

Mr. Yong Kang,

Meet Mr. Gill O Teen

Tue, 07/29/2014 - 15:38 | 5019183 youngman
youngman's picture

14 billion for a politician...somethings up..ya think

Tue, 07/29/2014 - 15:53 | 5019267 froze25
froze25's picture

Maybe he worked really hard for it.

Tue, 07/29/2014 - 15:43 | 5019218 buzzsaw99
buzzsaw99's picture

Off with his head! [/red queen]

Tue, 07/29/2014 - 15:46 | 5019228 Lanka
Lanka's picture

Zhou is no piker, in comparison to US congressmen, who are bought off with small change, courtesy of AIPAC.

Tue, 07/29/2014 - 15:50 | 5019253 buzzsaw99
buzzsaw99's picture

yep. congress is a bunch of cheap cheap cheap ass whores. they suck it for nickels and dimes. total pikers.

Tue, 07/29/2014 - 15:47 | 5019235 Goldilocks
Goldilocks's picture

PolitiZoid - You Didn't Build That!
http://www.youtube.com/watch?v=2giMADC_iQQ (1:35)

Tue, 07/29/2014 - 15:52 | 5019265 froze25
froze25's picture

I am sure that he made 14 Billion Honestly, Like all the other .001%ers

Tue, 07/29/2014 - 15:59 | 5019314 Urban Redneck
Urban Redneck's picture

.000001%ers (three orders of magnitude)

Tue, 07/29/2014 - 15:52 | 5019266 slightlyskeptical
slightlyskeptical's picture

Death is the only way to deal with the traitors. Betray your own people and you die.  What is so hard to understand about that?

Tue, 07/29/2014 - 16:16 | 5019391 Ariadne
Ariadne's picture

When I read stories like this I automatically switch the criminals for their counterparts. Zhou Yongkang = Eric Holder. To give you some idea how much corruption is kept from us... 

Tue, 07/29/2014 - 16:15 | 5019396 q99x2
q99x2's picture

Sounds like he has something to do with banking. Sentence that fucker to death.

Tue, 07/29/2014 - 16:27 | 5019447 Fuku Ben
Fuku Ben's picture

Meanwhile back in Never Never Land BO blows Boehner and promptly swallows impeachment

Tue, 07/29/2014 - 16:31 | 5019460 kchrisc
kchrisc's picture

He must have missed a payment to those above.

Tue, 07/29/2014 - 16:49 | 5019521 Otto Zitte
Otto Zitte's picture

Like every career bankster and politician he's worth more dead than alive.

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