Chinese billionaire Wang arrested over child molestation allegations

Authorities in Shanghai have arrested a prominent real estate mogul over the suspected molestation of a young girl.

Local Chinese media have identified the man arrested as Wang Zhenhua – a billionaire real estate developer based in Shanghai.

A woman was also arrested in relation to the alleged molestation of a 9-year-old girl late last month.

“Police adopt a ‘zero tolerance’ attitude toward crimes against minors and will severely crack down on such crimes in accordance with law,” Shanghai police said in a statement.

The crime is alleged to have happened in an upscale hotel in Shanghai – the girl told her mother about the alleged assault, who then contacted the local police.

Mr Wang, 57, was the chair of prominent real estate company Seazen and reports of his arrest have sent stocks in his company, including Future Land, crashing.

“We feel deeply sorry for the pain felt by the victim, and the victim’s family who are caught up in the storm,” Seazen, which is owned by Future Land, said in a statement.

“Anything that harms a minor is a severe offense. Seazen absolutely supports and agrees with the authorities in handling this case.”

According to the Bloomberg Billionaires Index, Mr Wang’s fortune has already plunged by around AU $2 billion since he was charged.

Mr Wang has also been stripped of some official government memberships, with the Chinese People’s Political Consultative Conference (CPPCC) revoking his membership.

The allegations have been covered widely by local media – including state broadcasters.

In China, sexual molestation of children carries of maximum sentence of five years.

The investigation continues.

A prominent Chinese real estate developer is one of two people arrested over claims of child molestation, state media reported Thursday.

The Shanghai prosecutor’s office said in a brief statement that the Putno district branch had ordered the arrest of two people, whom they identified only by their surnames, Wang and Zhou.

However, the Communist Party newspaper Global Times identified Wang as Wang Zhenhua, the former chairman of Seazen, one of China’s largest developers.

Seazen announced Wang’s son, Wang Xiaosong, had replaced his father as chairman after the older man’s resignation “for personal reasons.”

“We, just like the public, believe that minors are the future,” stated Seazen in a lengthy apology. “Anything that harms a minor is a severe offense. Seazen absolutely supports and agrees with the authorities in handling this case.”

Also Wednesday, Shanghai police opened an investigation into allegations that a girl had been molested at a local hotel.

The girl’s mother said Zhou, 49, had taken her daughter from Jiangsu province to Shanghai on June 30. Zhou surrendered to police on July 2, one day after Wang, 57, was placed under investigation.

The Shanghai Municipal People’s Government announced Monday it had expelled Wang, depriving him of political connections that could affect any future prosecution.

The allegations received wide media coverage in China, including on national broadcaster CCTV, highlighting on what is believed to be a common but underreported crime affecting millions of children.

Under Chinese law, sexual assault on a child is punishable by up to 5 years in prison, although longer sentences can be issued for additional charges.

State-run media in recent years has reported cases of children being attacked by teachers, relatives and neighbors, although prosecutions have been limited to just a few thousand cases per year due to a reluctance by children to report instances and a lack of resources in conducting investigations.

Among the most vulnerable are the estimated 69 million children left with grandparents or other relatives in rural areas after their parents move to cities to find work.