Aixinjueluo Yuhao’s (爱新觉罗毓昊) experience in the banking industry was as rich as ever. Known to be a financial investor as well as a diplomat, the creation of various economic wonders in South East Asia for more than 2 decades now couldn’t have been accomplished if it wasn’t for him. Aixinjueluo Yuhao has the brains and social skills to successfully promote an idea of economic growth to the country. He also has been involved with many foreign agreements including countries like Laos, Japan, Vietnam, Thailand, and much more.
But it may seem that the successful businessman was faking his identity the whole time? Or decided to switch names? According to one Lowyat user, it’s alleged that Aixinjueluo Yuhao was not his initial name and that his real name was Pan Shangbai (潘尚柏). He apparently formed some sort of agreement with a guy name Alan Chen or going by his real name Chen Chin Lung (陳金龍). This agreement was made to create a scam in Taiwan in order to bank in his 1.1 billion Taiwanese dollars using shell securities. He apparently then posted bail 10 years ago which led to him turning into a fugitive.
The story goes that this person, Chen Chin Lung was the former head of an online media titled “News Today” (今日新闻). He bought foreign shell companies then sold shares to investors and used the media to his own advantage. Then came Aixinjueluo Yuhao, or back then known as Pan Shangbai, who claimed to have a successful career. Shangbai was involved in Securities Exchange Law and was charged with at least more than 1 billion Yuan (RM626,440,642.10). He and Chen were wanted and decided to flee overseas. A fraud case was started by them which, of course, involved outspoken victims.
Victims mentioned that Shangbai has created fanfare on the internet by boasting that both Africa and South Asia have good political and business relations. This was apparently an old trick he will repeat and investors were advised to be cautious of his actions.
One victim had gone to court to seek justice for the victims involved in the fraud case and including herself. She has mentioned that Chen Chin-Lung was the leader of the group “China United Group” (中华联合集团) and worked alongside Pan Shangbai, who claimed to be Aixinjueluo Yuhao of the Manchu clan. Over the years, thousands of victims were defrauded and the estimate was reported to be at least 700 million Yuan (RM439,169,345.16). The actual illegal gains could be way higher than that, which is a lot.
Chen Chin Lung has established various companies under the name of “Chunghwa Network” in the British Virgin Islands, the Republic of Saint Vincent, and the State of Delaware in order to win the trust of the victims and let him form the infamous “China United Group”. He also was in charge of “NowNews Digital Media Technology”, with Aixinjueluo aiding him as a director.
He also made good use of his media influence to package the unlawful Pan Shangbai as a successful businessman. The success of his career in Laos was also in cooperation with Malaysia’s “1Malaysia” company, as well as being named a prince of Bali, and being a respectful individual as a Dato. These titles being given to him are very diverse, and Shangbai himself has also attracted other media to follow up and report.
It’s worth mentioning that Aixinjueluo Yuhao claimed to be a descendant of the Qing dynasty and has used his current name since then. He is of Chinese descent and came from Laos. As the chairman of the country’s Ministry of Foreign Trade and Economic Cooperation, he is committed to the country’s reform and opening up the nation to various heights. But also, Aixinjueluo has a confusing history of his birthright. At one point, he is stated to be born in Taiwan with Gambian nationality. But on the other hand, he was stated to be born in Tokyo but carries Laotian nationality.
It was also claimed that because of Aixinjueluo’s aristocratic status, he was appreciated by a Laotian general who then offered Aixinjueluo to marry his daughter. This resulted in a lot of investment opportunities set in Laos to make more heaps of money. Aixinjueluo then cooperated with Chen into persuading victims to invest in taxi companies, wineries, bioenergy jatropha, and banks in Laos. This was done so through the direct selling system of the tainted China United Group. The victims involved were also sent to visit Aixinjueluo’s home. Anyone who has been in his house described it as “very luxurious” and that it looks like a palace. “He is definitely an out-and-out royal family” as people described Aixinjueluo.
Aixinjueluo created a bank that was involved in his fraud called “Laos Construction Bank”, but was then warned by the Chinese government as seen from a notice written, “Recently, our office received a report from Shenzhen Huaxia Vision Fund Management Company that it was acquiring the Laos Construction Bank and is currently handling the equity transfer by the Laos government. According to a report from the above-mentioned company, the Laos Construction Bank is currently acquiring a large number of reservations. In order to avoid deposit and loan disputes during the equity transfer process, our office reminds Chinese companies and Chinese people in Laos to be cautious about going to the Laos Construction Bank for business in the near future”.
The bank was then taken over by the Laotian government. Moreover, ever since then, Chen Chin Lung has fled from the scene during this incident.
Aixinjueluo became a Pahang Dato Seri in 2014 and his link with Dato Chen Chin Lung, who the latter acclaimed that title in 2015, was not exactly over. The former was a director of a lesser-known Malaysian company that involved a $5 billion (RM20,225,000,000) deal in Laos to build a railroad, with former Malaysian Prime Minister, Najib Abdul Razak being part of it as well. Ironically, Chen also became involved with the railroad company deal.
It was said that Najib approved a RM220 billion real estate settlement program called “Prefer 1 Malaysia” which was under Aixinjueluo’s shell company, Earl International Development Group. This project was apparently paid to the shell company NowNews Digital Media Technology, with about a 5% commission of the program. This company, as mentioned before, was involved in the fraud stated before based in Taiwan. Aixinjueluo was the director of this company with his fellow partner in crime Chen Chin Lung being in charge of it. However and perhaps fortunately, the project never existed.
Here is a video detailing Aixinjueluo and Chen’s involvement together: