Chinanews.com, December 13. In response to recent foreign media reports on the company’s co-chairman Zhang Li, R&F Properties issued a statement on the evening of the 12th, saying that Zhang Li was arrested for hosting a banquet in China for the former executive of the San Francisco Public Works Department and providing him with hotel accommodation. Alleged bribery, R&F is taking legal action against this false accusation.
Picture from the official account of "R&F Group"
In addition, R&F Properties announced on the 13th that the company is aware of media reports that a London court has granted bail to the company's director Zhang Li in a pending case in the United States related to Z&L Properties Inc.
Picture from R&F Real Estate announcement
R&F stated in the announcement that it did not provide any bond for bail, and it has no interest in Z&L Properties Inc. (owned by Zhang Li and its related parties), and the case will not have any material adverse impact on the company's business and operations.
(China New Finance and Economics)