You are the news now

THE NEWS COMMENTER

Screenshot Freebeacon.com
VOTE  (0)  (0)

Congressman Calls on California to Fire Pension Official Tied to Chinese Spy Program


Added 02-14-20 06:20:03pm EST - “A Republican lawmaker urged California to fire a top pension fund official because he participated in a Chinese program that the FBI has called "non-traditional espionage against the United States."” - Freebeacon.com

CLICK TO SHARE

Posted By TheNewsCommenter: From Freebeacon.com: “Congressman Calls on California to Fire Pension Official Tied to Chinese Spy Program”. Below is an excerpt from the article.

A Republican lawmaker urged California to fire a top pension fund official because he participated in a Chinese program that the FBI has called "non-traditional espionage against the United States."

Rep. Jim Banks (R., Ind.) asked Gov. Gavin Newsom to investigate Yu Ben Meng, the chief investment officer at California Public Employees' Retirement System (CalPERS), for his "long and cozy relationship" with the Chinese Communist Party. The letter also decried CalPERS's investment in Chinese companies that built up the regime's military presence in contested waters of the South China Sea and produced surveillance equipment used for China's brutal crackdown in Xinjiang.

"Governor Newsom, if it were up to me, I would fire Mr. Meng immediately," Banks said in a letter to the governor. "At the least, I think a thorough investigation of Mr. Meng’s relationship to the Chinese Communist Party and a comparison of CalPERS investments in Chinese companies before and after Mr. Meng’s 2008 hiring are both warranted."

David Rutz breaks down the most important news about the enemies of freedom, here and around the world, in this comprehensive morning newsletter.

CalPERS is the largest public pension fund in the country, controlling $370 billion in assets that provide retirement benefits to more than 2 million Californians and health care to 1.5 million members and their families. Meng, a China-born U.S. citizen, is in charge of the financial behemoth's investment portfolio, which today retains billions of dollars worth of shares in Chinese companies. He worked at CalPERS for seven years until 2015 before being recruited by China's Thousand Talents Program (TTP), a program widely accused of serving as an arm of Chinese spy agencies. He served as the deputy CIO of China's State Administration of Foreign Exchange from 2015 to 2018. He returned to CalPERS in January 2019.

Read more...

Anonymous comments are welcome, just check the "Comment Anonymously" box before submitting your comment. If you don't see any comments yet, congrats! You get first comment. Be nice and have fun.

CLICK TO SHARE

COMMENTS VIA TWITTER






BACK TO THE HOME-PAGE