chief agrees to be extradited to U.S.

Guangzhou R&F Properties

14/06/2023 14:39

By Sam Tobin
       LONDON, June 14 (Reuters) - The billionaire co-chairman
and CEO of Chinese developer Guangzhou R&F Properties Co Ltd on
Wednesday agreed to be extradited from London to the United
States, where he is facing bribery charges.
    Zhang Li, who co-founded Hong Kong-listed R&F  2777.HK , is
wanted on a provisional warrant issued in the Northern District
of California that accuses him of participating in a scheme to
bribe public officials between 2015 and 2020.
    The 69-year-old, who is currently worth $1.6 billion,
according to Forbes magazine, is alleged to have paid kickbacks
to obtain permits for a construction project in San Francisco.
    He appeared at London's Westminster Magistrates' Court on
Wednesday, where he agreed to be extradited to the U.S.
    Zhang's case will now be sent to Britain's interior minister
to decide whether to approve his extradition.

 (Reporting by Sam Tobin; editing by Sarah Young)
 ((Sam.Tobin@thomsonreuters.com;))