A Paris tribunal has found Qu Naijie, the 63-year-old founder of Chinese corporation Haichang Group, guilty of money laundering, sentencing him to a three-year suspended prison sentence, a €1 million fine and the confiscation of nine of his Bordeaux châteaus, worth an estimated €35.5 million ($38.4 million).
The case has stunned Bordeaux. Qu was one of several wealthy Chinese figures who arrived in the region a decade ago, buying lesser-known châteaus with plans to invest in and market them to the growing Chinese wine market. Now, both Chinese and French authorities have accused him of running a scam.
Diving into the wine business
Qu was well-known in Bordeaux. Working with Christian Delpeuch, former president of the Bordeaux trade group Le Conseil Interprofessionnel du Vin de Bordeaux (CIVB) and ex-CEO of the négociant Ginestet, Qu snapped up 27 Bordeaux wineries in four years starting in 2010, spending $67 million. Delpeuch provided expertise on vineyard management.
None of the châteaus were major names in the U.S. market. Qu bought rundown estates whose owners were eager to sell, wineries that had failed to find consumers in Europe or America but could be rebranded to sell more lucratively in the burgeoning Chinese market. At this time, other superwealthy Chinese figures, including Alibaba Group founder Jack Ma, real estate and investment executive Pan Sutong and film star Zhao Wei, were also investing heavily in Bordeaux vineyards.
Qu, who made his fortune in oil trading before diversifying into chemicals, plastics, diamonds, real estate and theme parks, had a far-reaching vision. He sought to tie his hometown, the industrial port of Dalian, with Bordeaux both commercially and culturally. He began construction on an elaborate château-themed residential community in Dalian with a vineyard and a massive cellar to warehouse and sell Bordeaux wine.
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