Chinese tycoon 'linked to disgraced former spy chief'

[Fascination]

Chinese tycoon 'linked to disgraced former spy chief'

PUBLISHED : Wednesday, 25 March, 2015, 12:16am
UPDATED : Wednesday, 25 March, 2015, 3:04am

Andrea Chen [email protected]

Former spy chief Ma Jian. Photo: SCMP Pictures

A high-profile spat between Beijing Zenith Holding's Guo Wengui and Founder Group took a surprising turn yesterday after Guo was revealed to have close ties with disgraced former top spy Ma Jian, who is believed to have links with Founder.

An aide of Ma, former executive deputy minister of the Ministry of State Security, helped Guo spy on then Beijing vice-mayor Liu Zhihua in 2006 so that Guo's firm could keep its development project near the city's Olympic park, reported financial news outlet Tencent.

China's top graft-buster announced Ma's detention in January, weeks after Founder executives were taken away to help in graft probes.

The former aide of Ma told Tencent 's source that Ma and Guo's connection dated back to around 2005.

Guo began keeping tabs on Liu after the latter ordered the rebidding of the project over concerns that Guo might fail in raising the promised funds before the international games kicked off, the subordinate said.

Guo bribed staff at the hotel where Liu had trysts with his mistress and sent his sex tapes to the graft-buster, resulting in Liu's downfall and the withdrawal of the rebidding. Guo's firm has since then been known as the developer of Pangu Plaza, an iconic dragon-shaped complex that overlooks the Olympic Stadium.

After disputes between Guo and Founder over the composition of Founder Securities' board, Ma offered to mediate in return for more than 100 million yuan (HK$126 million) from each side. Tensions arose after Ma learned that Guo had in 2008 pocketed 300 million yuan that should have been shared with him.

Guo's son, Guo Qiang, is just as well connected, Tencent said. The younger Guo was a friend of Ling Gu, son of former presidential aide Ling Jihua , who died in a Ferrari crash in 2012.

Rumours have been rife that the elder Guo had been netted in the anti-graft drive, but Tencent sources said he had fled overseas.