Bay Area, downtown San Jose real estate tycoon is detained in England

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Bay Area, downtown San Jose real estate tycoon is detained in England
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A real estate tycoon whose China-based development firm has proposed Bay Area projects, including some in downtown San Jose, was detained in England amid a San Francisco corruption probe.

SAN JOSE — A real estate tycoon whose China-based development firm has proposed Bay Area projects, including some in downtown San Jose, was detained in England over a San Francisco corruption probe.

R&F Properties acknowledged that legal proceedings were underway involving Zhang, the company stated in a filing with securities regulators in Hong Kong. “The company wishes to clarify that it did not provide any security money for the bail, it has no interest in Z&L Properties , and the case will not have any material adverse impact on the company’s business and operations,” R&F stated in the filing.

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