Kris Wu liquidated his companies and tried to sell his properties

Beijing — Chinese-Canadian star Kris Wu is now being detained at the Beijing Chaoyang Detention Centre while awaiting his trial for the rape charges against him.

While shocking news swirled around the star, it has come to light that Wu had promptly tried to protect his wealth which is estimated to be worth at least 1.33 billion Chinese yuan (SGD276 million).

Many brands cut ties with Wu when 19-year-old influencer Du Meizhu accused him of sexual assault and preying on minors under the guise of casting actresses to be featured in his music videos.

Despite him denying the rumours, it was reported that the 30-year-old had started to liquidate his associate companies quietly.

Media outlet Jayne Stars reported that a relative of Wu, named Wu Lin, who was the representative and executive member of many of his associated companies had already gone through the liquidation process as well as the cancellation of records for them.

It was alleged that in the month of Jul, Wu only had two remaining active companies under his name in which he owns 99.99% of the shares. Furthermore, it was rumoured that Wu had attempted to sell off his luxury properties in Beijing.

The November Rain hitmaker is said to own three residences worth 100 million Chinese yuan (SGD20 million). Two of the homes are situated in the Chaoyang area including Wu’s Star River and Palm Spring homes. Another home is located in the Grand MOMA in the Dongcheng district, as reported by Hype.my.

Several netizens came forward and claimed that Wu’s real estate and automobiles were bought abroad with all his assets transferred to Canada when Wu was reportedly concerned about letting go of his Beijing properties after his sexual assault scandal surfaced.

Wu could be sentenced to between three and 10 years of imprisonment in China if he is found guilty in China. A possibility of a heavier sentence is implemented if the victim was underage or if multiple victims were involved.

Nevertheless, Wu’s assets will remain protected in Canada. /TISG