A record bail posted in a California court for one of the accused in a murder case has thrown the spotlight on a property fortune that traces its roots to the Chinese military, in a graphic illustration of how money made in China has flooded overseas real estate markets.
Tiffany Li is a Chinese-American heiress accused of ordering a hit on her ex-boyfriend in San Mateo county, a leafy suburb of San Francisco where Teslas are more common than violent crime. In April she posted $4m in cash and $62m in California property as bail — among the highest ever posted in the US.
The eye-catching amount has drawn unwanted attention to her family’s business, a complex web of real estate interests whose origins can be traced to construction partnerships with the Chinese armed forces. It shows how guanxi, or connections, in China can translate into wealth in America.