Australia set to seize assets of corrupt Chinese officials

Beijing: The Australian Federal Police are poised to seize assets of corrupt Chinese officials within weeks, in an unprecedented joint operation with their Chinese counterparts.

In an exclusive interview with Fairfax Media, Commander Bruce Hill, the manager of the AFP’s operations in Asia, has confirmed Australia has agreed to assist China in the extradition and seizure of assets of corrupt officials who have fled to Australia with illicit funds running into the hundreds of millions of dollars.

The joint operation will make their first forfeiture of assets within weeks, having agreed on a priority list of alleged economic fugitives who have taken residence in Australia – identified by Beijing as one of the most popular outlets for corrupt Chinese money.

Among the suspects identified by the AFP are naturalised Australian citizens and permanent residents who for years have laundered money under the guise of being genuine investment or business migrants from China.
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