Wu Yi Fan’s 206-million-USD asset slowly disappears without a trace following his official sentence.
On November 26, QQ reported on Wu Yifan‘s economic situation in China after the male artist received his sentence in prison. Data from Tianyancha shows that only one company co-owned by Wu Yifan with his cousin Wu Lin Xiamen is in existence. Previously, Wu Yi Fan opened 4 entertainment companies, but subsequently closed three of them for unknown reasons from 2020.
Of the 19 linked-investment businesses with Wu Yi Fan, 9 are still active. In October, the actor’s company was listed by the Chaoyang Market Supervision and Administration Bureau as having unusual activities for failing to release its annual report within the allotted time. Currently, Wu’s economic debt is recorded at 139 million yuan (19.3 million USD).
According to QQ, while there are no clear statistics, from Wu’s artistic and business activities, number of supercars and real estate, Wu owns a tremendous amount of assets. A news outlet stated firmly that Wu Yifan holds more than 1.3 billion yuan (around 206 million USD) in his hand.
Following his arrest at the end of July 2021, Wu Yi Fan asked his relatives to guard his 206-million-USD fortune by liquidating the company and selling off his home in China. His entire assets are said to have been moved back to Canada.
Wu and his family did not pay economic losses to their partners notwithstanding the fact that the company’s assets were sealed and listed as bad debts. According to Sina, required compensation from Wu to brands and film producers reaches up to 77 million USD.
Wu’s case is currently a hot topic in China following his final verdict on November 25th. He received a 13-year sentence for rape and group promiscuous activities and is to be deported from the China after finishing his sentence. He also has to clear a 83.7-million-USD fine for tax evasion.
Wu Xiuqin, Wu Yi Fan’s mother, is said to have been arrested, according to an entertainment blog. Several new information such as Wu Yi Fan raping a 14-year-old or him filing for an appeal surfaced the Internet but has not been confirmed by authority.
Wu Yi Fan was born in 1990 and debuted in the entertainment industry as a member of EXO in 2012. Before his fall, he had more than 50 million fans in China. In C-biz, he was considered one of the commercially valued and highly reputed artists.
He was the face of 40 luxury brands and landed in top 10 celebrities in China by Forbes for 4 consecutive years. According to news outlet 163, the singer bagged more than 20 million USD a year and more than 3 billion yuan (more than 460 million USD) in his 10 years of activity.
Source: Zing
