China Property Tycoon Zhang Li Agrees to US Extradition

The co-founder of Chinese property developer Guangzhou R&F Properties Co. Ltd. agreed to be extradited from London to the US to face criminal allegations of paying bribes to secure contracts in California.

Li Zhang “consents to extradition to USA on conditional bail,” according to a UK court filing. Zhang, a former government official who rose to lead one of China’s largest real estate firms, was arrested last year at Heathrow Airport on a flight from Singapore.

Zhang Li in 2017.

Source: Xinhua News Agency/Getty Images

The US law enforcement agencies alleged Zhang provided kickbacks and funds to San Francisco officials to win permits for construction of a multi ...