A joint investigation has been conducted by Postmedia and global due diligence firm IPSA International to get to the bottom of the massive banking scandal involving a Chinese property tycoon. The accused is believed to be involved in illegal dealings worth over $500 million in B.C.
The Chinese real estate tycoon Kevin Sun, also known as Hong Sun, Kevin Lin, Hong Wei Sun and Sun Hongwei is the CEO and Founder of Sun Commercial Real Estate, which was launched in 2013. Not only did the company buy and sell real estate, they were also able to raise over $200 million from foreign investors.
The scandal started with a $500 million loan audit in Jilin, which is a corruption-plagued northeastern province.
“As far as my client knows, there are no ‘Chinese police warrants’ in China for Kevin Sun (under that or any other name) nor are there any RCMP files in relation to same,” Sun Commercial lawyer, James Carpick stated in an email to Postmedia.
However, according to law enforcement officers interviewed by Postmedia, it was reported that Kevin Sun and Sun Commercial’s CEO Davidson Guo have been investigated by multiple agencies such as the RCMP, the Canada Border Services Agency, and the B.C. Securities Commission.
Most people are wondering if Kevin Sun is innocent or not, and most importantly what are his plans for Canadian and Chinese real estate markets?
Sun refuses to share any information regarding his personal interests and business affairs.