Arrest of Li Hai: A Look Back at the Yihai Smart City Project in Pailles

The recent arrest of Li Hai, a 68-year-old Chinese businessman and company director, has renewed attention on the entire Yihai Smart City project located at Domaine Les Pailles. He has been provisionally charged with money laundering by the Financial Crimes Commission (FCC) and is suspected of transferring RMB 43 million (approximately Rs 280 million) from the account of his company, Yihai International Investment Management Ltd, to a personal account in Hong Kong in November 2014. These funds are ...