Pieces of the Puzzle: The Feds Close in on the Real Flow of Chinese Cash

By Klaidman, Daniel; Isikoff, Michael et al. | Newsweek, December 1, 1997 | Go to article overview

Pieces of the Puzzle: The Feds Close in on the Real Flow of Chinese Cash


Klaidman, Daniel, Isikoff, Michael, Hosenball, Mark, Newsweek


The Feds close in on the real flow of Chinese cash

EVERY WEEK THE FBI AGENT ARRIVES at the Grand National Bank in suburban Los Angeles. Unfailingly polite, hauls away documents pertaining to bank accounts connected to Ted Sioeng, an Indonesian-born L.A. businessman. Lately he's been getting a bit impatient, pressing the employees who process his subpoenas to turn over more documents-quickly. Why? Because the tiny bank has become ground zero in the Feds' probe into the Asian connection.

Sen. Fred Thompson's investigators couldn't produce proof of a Chinese plot to buy influence by illegally contributing to U.S. campaigns. But now Sioeng's bank accounts have yielded enough new evidence to prompt the Feds to convene a grand jury in L.A. to investigate Sioeng and other contributors. Confidential bank records examined by NEWSWEEK show that Sioeng and his family received wire transfers from two Hong Kong holding companies at the same time he was giving to the Democratic National Committee. The companies, it turns out, handle Sioeng's business in China-which means Chinese money could have ended up in U.S. campaign coffers. NEWSWEEK has learned that investigators also want to know why Sioeng was flying parties of Chinese provincial officials to the United States for "training courses" using Chinese money. And Sioeng was mentioned in intercepted Chinese communications in which Beijing officials discuss how to influence U.S. politics. Sioeng's lawyer says his client simply used real-estate profits to make political donations and that he adamantly denies being a Chinese agent. He won't discuss the criminal investigation.

Though he speaks no English and flashes a Belize passport, Ted Sioeng had little trouble becoming a player in the Democratic Party last year. He dined with Bill Clinton and Al Gore after giving the DNC $250,000. But Sioeng has close ties to Chinese pols, too. His extensive business with China included a deal to import Chinese-made cigarettes to the United States. And bank documents show that his account received at least $2.1 million in wire transfers from two of his Hong Kong companies last year--at the same time he and his daughter were giving generously to the DNC.

It's a classic case of following the money. On Feb. 19, for example, Sioeng's daughter wrote a check for $100,000 to the Democrats.

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Pieces of the Puzzle: The Feds Close in on the Real Flow of Chinese Cash
Settings

Settings

Typeface
Text size Smaller Larger
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.