Chinese billionaire pleads guilty to straw donor scheme in New York and Rhode Island
Source: AP
Updated 9:55 PM EDT, March 18, 2024
NEW YORK (AP) — A Chinese billionaire pleaded guilty Monday to violating U.S. election laws by funneling illegal straw donations to a New York City official, a member of the U.S. House and a congressional candidate.
Hui Qin, a Chinese film magnate with homes in Manhattan and Long Island, admitted to using his fortune to recruit and reimburse people who made political donations on his behalf, beginning with a New York City race in 2021.
Court papers filed Monday by federal prosecutors in Brooklyn don’t identify the candidates backed by Qin. But there were only a handful of citywide races in New York that year, including the election of Mayor Eric Adams. When asked, an attorney for Adams, Vito Pitta, said: “As the federal government made clear today, the campaign had no knowledge of a straw donor scheme — and no member of the campaign has been charged with or accused of any wrongdoing.”
Qin was previously included on the Forbes list of billionaires, with an estimated net worth of $1.8 billion from his stake in film and entertainment companies, including the Honk Kong-based SMI Culture. He has been in U.S. custody since his arrest last October on charges of using a fake identification.
Read more: https://apnews.com/article/hui-qin-chinese-billionaire-federal-election-e242919f1e4ca8d7b1fb74c7e8ee81cf
Link to DOJ PRESS RELEASE - Billionaire Chinese National Pleads Guilty to Straw Donor Campaign Contribution Scheme and Other Frauds
