via nytimes:
China’s ruling Communist Party has expelled an outspoken and prominent property tycoon who denounced the country’s authoritarian leader, Xi Jinping, paving the way for his criminal prosecution and escalating its efforts to quash dissent among the elite.
The party announced the expulsion of the tycoon, Ren Zhiqiang, late Thursday, and said that it had seized his assets for “serious violations of discipline and law” that included the possession of golf club memberships. Officials also took aim at Mr. Ren’s family, accusing him of “colluding with his children to accumulate wealth without restraint.”
The moves against Mr. Ren, 69, appeared designed to send a chill over the country’s entrepreneurs and other business leaders and demonstrate the party’s resolve to use him as an example to show that no one was above its demands of unflinching political loyalty.
From “to get rich is glorious” to “colluding with his children to accumulate wealth without restraint” in one generation.
h/t SG