Politics

Texas Mogul Sells 130K Acres to Chinese Billionaire

A Texas actual property mogul from Lufkin reportedly offered a considerable amount of native farmland to a Chinese billionaire recognized as Sun Guangxin, who has hyperlinks to the Chinese Communist Party (CCP).

Realtors within the space informed the Daily Mail that David Frankens made hundreds of thousands of {dollars} by way of the take care of Sun, who was beforehand a captain within the Chinese army, the outlet reported Sunday.

Sun apparently bought over 130,000 acres of farmland in Val Verde County for about $110 million between 2016 and 2018, the article mentioned, including {that a} native landowner known as the Texas man’s actions “treacherous.”

An picture shows the Texas mogul with an unidentified girl:

The Mail article continued:

Frankens’ relationship with Sun has put him on the middle of an ongoing controversy over the billionaire’s Texan land seize, which noticed the Xinjiang-born businessman declare 7 % of all land in Val Verde County between 2016 and 2018.

The former People’s Liberation Army (PLA) captain hit the headlines when he tabled plans for a 46-turbine wind farm on a 15,000-acre ranch he purchased from Frankens in 2018.

Opponents mentioned the challenge would supply Sun — and by extension the Chinese state — entry to the state electrical grid.

In response, Gov. Greg Abbott (R-TX) handed the Lone Star Infrastructure Act in 2021 to shield his state.

WATCH — Rhodes: China Is ‘Much More’ Aggressive with Spying in Preparation for Possible War:

Breitbart News reported on the time:

“As far as I know this is the first law of its kind by any state in the United States of America,” Abbott mentioned of the invoice designed to forestall “hostile nations” from accessing Texas’ electrical energy grid and different “critical infrastructure,” akin to laptop networks and waste remedy techniques.

Republicans in Congress additionally weighed in, together with Sens. John Cornyn (R-TX) and Ted Cruz, with the latter introducing the Protecting Military Installations and Ranges Act of 2021, a invoice that will require the Committee for Foreign Investment within the United States (CFIUS) to re-review “any purchase or lease of real estate near a military installation or military airspace in the United States by a foreign person connected to or subsidized by “China, Russia, Iran, or North Korea.”

Per the Mail article, Frankens reportedly purchased properties within the space earlier than shortly flipping them to GH America, which is a subsidiary of the Chinese billionaire’s Guanghui Group.

In April, the Texas Senate handed a regulation to ban Chinese residents from shopping for sure sorts of farmland within the state, Breitbart News reported.

Senate Bill 147 might ban residents from China, Russia, Iran, and North Korea, from shopping for such land “with lawmakers fearing that the sale of such land to individuals hostile to America could jeopardize the country’s food security,” the outlet mentioned.



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