China's anti-corruption watchdog has recovered thousands of gold bars and bricks from the residence of senior Communist Party official in a raid earlier this month.
In addition to the gold which could be worth up to £520m, inspectors discovered 268 billion yuan (£30 billion) in suspected bribes from Zhang Qi's account who has been sacked from his official post, reported Daily Mail on Friday.
If corruption allegations turns out to be true, Zhang would have been richer than Jack Ma, the wealthiest man in China worth $37 billion according to Forbes.
Zhang was the secretary of the Communist Party Committee of Haikou, holding equal power as the city's mayor and a member of the Standing Committee of Hainan Province, according to the ranking of Chinese Communist party officials.
He has been stripped of both titles by the Commission for Discipline Inspection of the Central Committee of the Communist Party of China.
"Mr Zhang was suspected to have seriously violated the law and discipline," said the officials in a statement and added that he was currently under inspection and investigation from the authority.
The case surfaced after footage of a man counting slabs of gold went viral on social media.
The story originally published in Daily Mail
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ