TX mogul branded ‘treacherous’ over selling 130K acres of farmland to Chinese billionaire
‘Deal of The Century’
- David Frankens, of Lufkin, East Texas, has sparked fury among local ranchers after he sold swathes of land to Sun Guangxin, a former Chinese military captain
- Local realtors claim Frankens made ‘millions of dollars’ in profit from the trades, in which he would buy the land before selling it on to Sun within the same day
- The Texan businessman has since been accused by one of his former ranch managers of cornering him in his office and punching him in the head
A Texan real estate mogul allegedly made ‘millions of dollars’ by selling vast swathes of local farmland to a Chinese billionaire with close ties to Beijing.
David Frankens, from Lufkin, East Texas, scored the ‘deals of the century’ when flipping the land at around twice its market value to Sun Guangxin, a former captain in the Chinese military, local realtors told DailyMail.com.
The trades have sparked fury among ranchers in Val Verde County, where Sun bought more than 130,000 acres of farmland for an estimated $110 million between 2016 and 2018.
A report written by former CIA officials, seen by DailyMail.com, suggested the Chinese billionaire could be considered a national security risk by US authorities due to his extensive links to the Chinese Communist Party (CCP).
One local landowner described the Frankens’ actions as ‘treacherous’.
Texan real estate mogul David Frankens (pictured) has been branded ‘treacherous’ after he allegedly made ‘millions of dollars’ selling vast swathes of farmland to a Chinese billionaire with extensive ties to Beijing, sparking national security fears
A report written by former CIA officials, seen by DailyMail.com, suggested Sun Guangxin (pictured) could be considered a national security risk by US authorities due to his links to the Chinese Communist Party (CCP)
Sun bought more than 130,000 acres of farmland in Texas between 2016 and 2018 for an estimated $110 million. Pictured: The gates to his headquarters in the region, Morning Star
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