The San Francisco Chronicle reported in 2019 that 555 Fulton St. was, following a significant delay, in the "finalizing construction" stage. Now, the billionaire developer Li Zhang has been arrested in London for bribery in San Francisco and is also facing extradition.
Chinese billionaire Li Zhang, co-founder and CEO of Guangzhou R&F Properties, was detained on Nov. 30 in London pursuant to a provisional warrant issued by the Northern California District Office of the United States Attorney's Office.
According to Reuters, Zhang was charged with "participating in a scheme to bribe public officials" between 2015 and 2020.
According to Forbes, Zhang, 69, is worth $2.3 billion. He was given bail of less than 15 million pounds (about $18.4 million) ahead of a judicial struggle to prevent extradition to the United States. He failed to appear at a hearing on December 12.
Zhang will be restricted to an apartment 24 hours a day as part of his bail conditions and will be sus...
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