So if you have wondered why famous actress FAN BINGBING has been silent over the last few months and pretty much missing in action here is the reason why. As reported in Taiwan News, the actress has been arrested in China and faces multiple charges of tax evasion amounting to around $12 million USD. The charges all relate to bank lending scandals according to China’s state-run Securities Daily (證券日報) where Fan evaded taxes with “Ying Yang contracts.”
In the Securities Daily report, which was taken offline a few hours after it was posted, an influential figure in Beijing told the newspaper that Fan is still in prison and “it’s really tragic, and won’t be able to get out.” The article also stated that the scandal related to her contracts are only the “tip of the iceberg” of her legal problems, which could extend to involvement in bank lending and corruption cases.
In May of this year, CCTV anchor Cui Yongyuan (崔永元) leaked details on a social media post of a set of Yin-yang contracts – double contracts for the same project – Fang had allegedly signed for the Feng Xiaogang film “Cell Phone 2.” One of the contracts was worth US$2 million, while the second contract was worth $10 million, reported Asiaone.
Cui alleged that instead of paying US$12 million in total earnings, the first contact would be the only one reported to tax authorities, while she could purportedly pocket earnings from the second contract tax free.
Many commentators in China are saying that this could mark the end of her career in acting and that it is sad and tragic that it has evolved into this. I think this will definitely be an interesting case to follow and see how it all pans out – but knowing how China operates, they will definitely be harsh in laying down the law.
Image via Taiwan News
To read the original article, please click on: Fan Bingbing’s arrest could spell end of career: Chinese media