A Hong Kong real estate mogul is set ot be extradited to the U.S. to stand trail on bribery charges. Guangzhou R&F Properties co-founder Zhang Li was arrested Nov. 30 in London for extradition.
The real estate billionaire is facing charges of bribery in relation to a development project in San Francisco via Z&L Properties, according to the South China Morning Post.
Z&L Properties is owned by Zhang.
R&F Properties stated that Zhang is facing bribery charges "for hosting a dinner in China for a former public affairs executive in San Francisco and providing him with hotel accommodation," according to its official WeChat.
The company distanced itself from the San Francisco project, stating that its co-founder was acting separately from the company and that R&F had "no interest" in the development.
R&F has not posted bail for its co-founder and has said Zhang's legal issues will have no bearing on its business moving forward.
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