01 Investigation
Written by: He Jinkang, Zhou Weiqiang
2021-07-03 08:00
Last update date: 2021-07-03 08:00
Businessman Chen Zhencong lost the case against the late Chinachem Group Chairman Gong Ruxin’s estate. In July 2013, he was convicted of forging a will. He was sentenced to 12 years in jail, deducting good behavior and reduced his sentence. He was released on July 3 after serving his sentence.
"Hong Kong 01" found that Chen Zhencong, who received about 3 billion yuan from Gong Ruxin, once owned a property with a market value of 1 billion yuan, distributed in the hilltop, mid-levels, and large private housing estates. Now there are only two left. In the early 1990s, he and his wife Tan Miaoqing co-branded For the purchased private flats in Tseung Kwan O, Tan requested to "divide the flats" in 2018 and notify Chen Zhencong in prison to change the ownership of the long-lived lease to "shared ownership", that is, one person and half the ownership.
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The reporter went to the Wealthy Garden property owned by Chen Zhencong. Someone at the unit answered but said that he did not know Chen Zhencong and Tan Miaoqing.
(Photo by Hong Kong 01 reporter)
According to documents from the Land Registry, the Chen Zhencong family invested in property units since 1993. Gao Feng had owned 8 units, including luxury homes in Mid-Levels such as Nanhuaju and Weihao Pavilion; and the more "civilian" Laguna City, Yak South Horizons on Hai Chau, BMW Garden in North Point.
However, from 2008 to 2013, during the period of inheritance lawsuits, he cashed out the above-mentioned housing estates. The sale of Nanhuaju in Mid-Levels Central alone has made a profit of more than 300 million, and all the transactions have made a profit of nearly 400 million.
However, in the early 1990s, Chen Zhencong and his original wife, Tan Miaoqing, purchased two connected units on the top floor of Wealthy Garden in Tseung Kwan O at a low price of more than 600,000, and they still hold them.
The two units are characteristic units with rooftops, with a total market value of 22 million yuan. The two units have never been mortgaged. In other words, taking into account Chen Zhencong's half of the ownership, Chen still has a property worth more than 10 million yuan.
However, according to the Land Registry’s documents, the two units were originally held by Chen and Tan under the joint name "Joint Tenant", but Tan Miaoqing signed the "Notice of Severance" in June 2018, which is commonly known as the "Notice of Severance". "Deed of Deeds", the title is changed to "Tenants in common" (Tenants in common).
The reporter went to Wealthy Garden recently. There was a staircase on the top floor with eight groups. The unit involved was occupied. After a man answered the door and said, "Tan Miaoqing is not there," he said that there was no such person. He did not respond to whether Chen Zhencong would be taken out of prison. The door was closed immediately after being a reporter.
According to the inheritance hearing that year, Chen Zhencong caught up with Gong Ruxin in 1992 and got close to Gong by digging a feng shui tunnel. In the court, a number of large-scale flirting episodes were disclosed. Chen said that the two met within a few months and developed an intimate relationship. Gong nicknamed him "husband"; almost every time he met, Gong would give him tens of thousands of "rewards". Over the years, Chen received about 3 billion Hong Kong dollars from Gong.
Chen Zhencong’s fourth brother, Chen Zhenguo, disclosed in the court that in the early 1990s, he and his second brother, Chen Zhenhong, went to the bank or the parking lot of Chinachem Plaza in Tsim Sha Tsui several times a month to withdraw large stacks of thousand-yuan banknotes and put them in a tennis bag. Deposit in your company account with other banks.
Even though Chen Zhencong lost the lawsuit and was prosecuted until he was convicted, he continued to "redress grievances" after he was imprisoned. He once sent a letter to the media insisting that there were doubts in the property dispute, and filed a lawsuit with the Siming District People's Court in Xiamen City, Fujian Province, China. 8 companies, including Chinachem Charity Foundation, Chinachem Group and two of its subsidiaries.
Last year, Chinachem Charity Fund Co., Ltd. asked the court to order Chen Zhencong to go bankrupt, saying that he still owed 28 million yuan in litigation costs.
There are reports that Chen Zhencong intends to publish a book after he is released, telling anecdotes between himself and Gong Ruxin.
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