Police Seize Illegal Property from Female Beijing Tycoon

Screen shot of Gong Aiai's mausoleum that costs millions.
Screen shot of Gong Aiai's mausoleum that costs millions.

Female real estate tycoon Gong Aiai lived in Shuang Bushu Village in Xie Jiabao, Shen Mu County. After moving away, she later returned to the village to buy land for the construction of her own mausoleum. Villagers say she spent more than 1 million yuan on the land.

It’s widely believed she made her first money in coal mining and got involved in real estate and the hotel industries via a usurious loan. But then her business nosedived and she attempted suicide.

Beijing police say Gong now owns 41 pieces of real estate in Beijing totalling nearly 10,000 square meters, as well as an Audi sedan. Her records have been updated, but her real net worth might be even more.

Gong Aiai was formerly the Deputy Governor of the Rural Commercial Bank in Shen Mu County, Shanxi Province. Before these numbers were reported, she was already found to have four household registration records, 11 pieces of real estate, four registered companies, shares in a number of coal mines and many pieces of real estate and hotels.

These were held under fake identities that hadn’t yet been exposed. How could she become so rich? How did she accumulate her wealth?

Gong Aiai went from being a rural girl living in caves to becoming a representative of the Yulin Municipal People’s Congress. She was promoted from being a loan officer at Shen Mu’s Credit Union Branch to being the Deputy Governor of the Rural Commercial Bank.

She invested in real estate after becoming involved in coal mining and usury. Gong hid most of her property behind the fake names of her other three accounts. Beijing Police have seized 10 of her properties and her Audi Sedan, which were all bought with Gong’s illegally processed Beijing household registration record.

Translated by Lu Lu

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