Fugitive tycoon tops FinanceAsia's Rich List

Former Chinese Estates chairman Joseph Lau tops the list of biggest dividend recipients in the region after his property empire disposed of a series of assets.

Joseph Lau, the former chairman of Chinese Estates Holdings, is the new number one on our Rich List, with over $1.5 billion in dividend payouts. The ailing property tycoon, who was convicted of bribery and money laundering in Macau in 2014 but has not returned to serve his sentence, benefited from a series of special dividends paid by Chinese Estates after asset disposals.

Chinese Estates issued three special dividends between August 2016 and May 2017 according to company filings, after selling a shopping mall and residential tower in Hong Kong, retail outlets in Shenzhen, as well as its holdings in a Chinese bank. The assets were sold to...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222