In China, Gong Aiai, aka “House Sister,” accused of falsifying documents that allowed her to bypass permitting and other measures to curtail speculative residential real estate investment, has been sentenced to three years in prison.

Aiai, who grew a real estate portfolio worth $160 million that included 41 apartments in Beijing, was outed in February by whistle-blowers and became the face upon which lower-income Chinese pinned their frustrations of the rising home prices that have made it difficult for them to afford housing.

Source: New York Times


Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top
Time is running out to secure your Connect Now tickets at the lowest price. Don't miss out on a chance to grow yourself and your business.Learn More×
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription