The Financial Times reports troubles for the owner of the old Motorola plant in Harvard.
One can tell from the headline:
Arrest of Chinese-Canadian businessman sought in fraud and money-laundering case
Case allegedly involved several hundred million dollars and tens of thousands of victims
Edward Gong, otherwise known as Xiao Hua Gong and Xaiohua Gong, was charged shortly before Christmas with by theĀ Ontario Securities Commission with
- fraud over $5,000
- possession of property obtained by crime
- laundering proceeds of crime
- uttering a forged document
Victims of Gong’s schemes are mainly in China.
He made contributions to both the Conservative and Liberal Parties in Canada.
Harvard made the story because reporter Barbara Shecter found a Northwest Herald article about Gon’s having purchased Harvard’s old Motorola plant forĀ $9.3 million in April.
Chinese-Canadian? Yeah right!
So there you have it.
And you were waiting for some jobs to appear?
Sounds like the government now owns that property.
The owner of the property was delinquent on his property taxes, and somebody bought them.
The owner of has something like three years to pay back the guy who bought the taxes with interest, or he loses the property to him.
So the whole thing was a money laundering scheme.
Sounds like Season 3 of Fargo.
Swamp, you nailed it once again!
Wells Fargo?
Maybe the historical peeps can save the decrepit old farmhouse now?
The first episode of Fargo, Season 3, which is about an international swindler who takes over a MN parking lot company to gut it and launder ill gotten money, is entitled: “The law of vacant places.”
How fitting. https://en.wikipedia.org/wiki/The_Law_of_Vacant_Places
Which swings you back to Trump’s executive order. The government now owns it!
Ah, but the story is not over yet ….
Is Joseph’s Foods closing? anyone know?
So he was arrested on a Thursday and bailed out on Friday. What is the rest of this story? Need some follow up.