Kris Wu Liquidated His Companies and Tried to Sell Beijing Homes?

Awaiting trial for rape charges, Kris Wu (吴亦凡) is currently kept at the Beijing Chaoyang Detention Center. Since the accusations surfaced in July, the 30-year-old Canadian Chinese singer is said to have immediately attempted to protect his wealth, which is estimated to be worth at least 1.33 billion Chinese yuan (approximately US $206 million).

Debuting under EXO in 2012, Kris left the Korean boyband to fly solo in China two years later. With his sharp looks, Kris headlined multiple movies including Stephen Chow‘s (周星馳) box office hit Journey to the West: The Demons Strike Back <西游伏妖篇>, and was in high demand in Chinese variety shows.

Kris ranked within the top 10 spots for three years on the Forbes China Celebrity 100 list, flexing his fame and wealth. Over the past seven years, Kris was a favorite among luxury labels and rapidly grew his net worth to CNY 1.33 billion.

Liquidated His Companies

When 19-year-old influencer Du Meizhu accused Kris of sexual assault and preying on underage girls under the guise of casting them in his music videos, the star was quickly dropped by all his endorsement deals. Although Kris initially denied the accusations as “malicious slander,” he started quietly liquidating his associated companies.

His cousin Wu Lin (吴林), who was the representative and executive member of many of his associated companies, had already went through the process of liquidation and cancellation of records for them. By July, Kris only had two remaining active companies under his name in which he owns 99.99 percent of the shares.

Tried to Sell Beijing Homes?

Kris purportedly owns three luxury homes in Beijing valued at CNY 100 million. Two homes are located in the Chaoyang district, including his Star River and Palm Springs homes. His third home is located in Grand MOMA in the Dongcheng district.

While Kris was allegedly anxious to sell his Beijing properties after his controversy surfaced,  some netizens claim that all of Kris’ real estate and vehicles were purchased abroad, with all his assets transferred to Canada.

If convicted, the Canadian Chinese singer faces a prison sentence of 3 to 10 years in China, with possibility of a heavier sentence if the victim was a minor or if multiple victims were involved. However, his vast assets will remain protected in Canada.

Palm Springs, Chaoyang district, Beijing
Star River Estate, Chaoyang district, Beijing
Grand Moma, Dongcheng district, Beijing
Kris Wu’s company offices are now vacant
Kris Wu’s company offices are now vacant

Sources: On.cc [1,2], Netease

This article is written by Kiki and Jayne for JayneStars.com.

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Responses

  1. I always find him unattractive to me… But it does not surprised me he is hiding money in Canada… there is nothing China can do with those money. They can only freeze his assets in China. I heard his mum is being interviewed too. I hope she is also charged if she is found guilty.