Fan Bingbing 'sells off' 41 properties to avoid prison sentence.
The actress was forced to repay the money to pay taxes following a penalty from the Jiangsu Provincial Tax Bureau; failure to do so could result in jail time.
According to a penalty issued by the Jiangsu Provincial Tax Bureau (China) on September 26th, Fan Bingbing must pay over $70 million USD in fines, plus late payment penalties and fines for fraudulent activities. With an estimated net worth of several hundred million USD, the fine is considered within Fan Bingbing's ability to pay. However, raising this amount within the deadline set by the Jiangsu Provincial Tax Bureau has put Bingbing in a difficult position.
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Actress Fan Bingbing. |
According to sources fromEttodayThe actress is currently selling 41 properties of varying sizes in Beijing that she owns, with asking prices reduced by 20-30% compared to market value. The real estate agency refused to disclose information about the owner of the villas and apartments in Palm Springs – which are being offered for sale en masse; however, many sources confirm that the property is registered under the name of none other than the actress.
The tax evasion scandal caused Fan Bingbing significant financial losses.EttodayFollowing the official announcement from the Jiangsu Provincial Tax Bureau, 127 brands that the actress was the face of have successively turned their backs on her. Previously, during the period when Bingbing was under house arrest, many brands also announced that she was no longer their brand ambassador, Mont Blanc being a prime example. Brands even refused to mention Bingbing due to her high-profile scandal.
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One of the houses is registered under Fan Bingbing's name. Photo:News |
PageEttodayOn October 4th, a well-known Weibo blogger in China, La But Tieu Cau, revealed the process of Fan Bingbing's arrest for tax evasion investigation. According to the blogger, Bingbing was arrested in Nanjing, Jiangsu, while on the 20th floor of the Dezi Plaza building visiting a shaman. The arrest was carried out by the Beijing Municipal Public Security Bureau, with assistance from Nanjing police. The actress left the building under police protection, wearing a large bag to cover her face. All those involved at the scene were arrested, and CCTV footage was shut down at the authorities' request. Bingbing was then taken directly to Beijing by car.
