Chinese real estate developer, founder admit bribing former San Francisco official
( July 19, 2023, 21:40 GMT | Official Statement) -- MLex Summary: Z&L Properties Inc. and its founder and chief executive officer, Zhang Li, admitted to their roles in a scheme to bribe a former San Francisco official in exchange for favorable city treatment of the developer's mixed-use project. As part of a negotiated disposition, both waived indictment and admitted their conduct, prosecutors said. Z&L also will agree to a comprehensive compliance and remediation program designed to prevent bribery and corruption in connection with its real estate development work. Statement and criminal information documents follow:...
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