Chen family wealth

In 2012, the Chen family started building an ancestral home in their hometown at Shanting Town in Putian city, Fujian province. The structure of the seven-storey house had been completed by the time of the 2013 seizure, but the financial loss and escape of the three Chens from China following the seizure did not interrupt construction. Instead, subsequent visits by Huangpu Customs ASB as part of lifestyle investigations found the home to be extravagantly decorated and new luxury cars purchased by the family. It was reported that even in the Putian countryside where there is a plethora of luxury villas, the Chen family’s home appeared to be extraordinarily grand and opulent.20 During the conviction of Chen Chengzong, the court ordered the confiscation of all his personal assets, but it is not yet clear if this will include the Chen family’s ancestral home.

Key finding 4

The Chen OCG relied on the formal banking system to launder its money by transferring the illegally obtained funds through third party bank accounts of family members.