Buchang Zhao, who co-founded Shandong Buchang with his son, was implicated in a bribery scandal in July 2007. Buchang was named among the executives of eight drug companies that bribed Zheng Xiaoyu, former head of the of the State Food & Drug Administration in China.
In his confession to the Chinese Communist Party, Zheng admitted to accepting $850,000 in bribes from the drug companies. Zheng was sentenced to death for corruption and dereliction of duty and was executed on July 10, 2007.
The Panama Papers and the Paradise Papers — troves of millions of documents which described improprieties involving offshore financial entities — provide some detail on transactions involving the Zhaos, including a financial entity registered in Bermuda to Xiaohong Zhao. Xiaohong is Zhao Tao’s wife, according to multiple Chinese publications.
Another entry lists Zhao Tao as a shareholder of China Dream Capital, which is described on its website as a “boutique investment bank.” The organization’s website also states that it advised a transaction involving Chinese environmental energy company BCCY and Sequoia Capital, the prominent venture capital firm headquartered in Menlo Park.
China Daily, the English-language newspaper of the Chinese Communist Party, published a detailed profile of Tao in 2016, describing his business successes.
“The current Zhao Tao is not merely a business in Jilin, but also a ‘name card’ that publicizes Jilin here and there,” it stated, referring to the northern Chinese province in which a Shandong Buchang subsidiary is headquartered, according to Bloomberg.
2019 – 1.5 TRILLION DOLLARS IN DEBT
In 2015 44.25 million Americans took out loans to pay for their education (Federal Reserve Bank of New York) Which left the country with $1.41 Trillion In Student Loan Debt
ACADEMIC THUGGERY ALLOWS RICH PARENTS TO PAY COLLEGES TO GET THEIR KID IN THEITHOUT ANY PROBLEMS FOR THE ACADEMIC INSTITUTIONS THAT HAVE ALWAYS KNOWN ALL ABOUT IT.
THE LEGACY SYSTEM OR HOW COLLEGES LOOK THE OTHER WAY WHEN MOMMY AND DADDY BUY YOUR WAY IN.