The Hong Kong tycoon at the helm of Chinese Estates Holdings Ltd. will face prosecution in Macau over charges of bribery and money laundering linked to a land deal in Asia’s gambling capital, the latest high-profile corruption case involving a Hong Kong property company.
…At the crux of the discontent is the allegation that the government has coddled real-estate developers through favorable policies and helped send property prices up. While such concerns have persisted for years, public resentment intensified when Hong Kong’s chief executive in March admitted to riding on yachts and private jets owned by local tycoons, sparking thousands to take to the streets in protest.
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