From The Australian comes more evidence of the clamp slowly being applied to Australia’s new business model of laundering dodgy Chinese money through its property market:
The Chinese Foreign Ministry confirmed it wanted Australia’s help in tracking corrupt officials as the Abbott government announced an expansion of a visa class that now allows millionaires to get permanent residency here.
Corruption-busters running Operation Fox Hunt — China’s title for the new push to detain and repatriate corrupt officials — are reported to have also pressed other Western governments for help with their activities.
…Caijing, a respected business magazine in China, recently identified seven senior officials or executives of state-owned enterprises who are hiding in Australia. Collectively, they are accused of bribery and embezzlement involving a total of about $1 billion.
A former senior diplomat questioned China’s timing in raising the crackdown amid free-trade talks with Australia and warned “this is going to be an issue that won’t go away”.
…The former diplomat warned that despite assiduous screening from immigration personnel, the significant investor visa scheme would have been exploited by corrupt officials to spirit away illegally obtained funds.
“Assiduous”, very amusing.
