Internatiomnal Trade Economics - Page A1

March 31, 1997

BANK OF CHINA WAS SOURCE
OF FUNDS PAID TO CLINTON

By Howard Hobbs, JD PhD Economics & Legal Editor

WASHINGTON DESK - Charlie Yah Lin Trie, a central figure in the controversy over foreign contributions to the president of the United States is hiding in Red China. Bill Clinton was the recipient of a series of huge wire transfers in 1995 and 1996 from a bank operated by the Chinese government, it has been learned today.

The transfers from the New York office of the Bank of China usually in increments of $50,000 or $100,000, came at same moment in time when Trie was directing large donations to the president's 'legal defense fund'.

A Justice Department task force spokesman denies it is currently investigating allegations that China may have directed cash contributions to the president's 'legal defense fund'.

Trie, who transferred $320,000 to the Democrat Party and raised even more, has business dealings in China. In past interviews, he has stated that his contributions came from his U.S. interests, though the DNC returned a $15,000 contribution from Trie that came from a foreign business partner.

The Bank of China is Red China's top state-run commercial bank and is the Communist main foreign-exchange bank. Its customers are mainly large mainland Chinese interests. Reid Weingarten, said Trie is in China and cannot be reached for comment.

However, the transfers have caught the interest of several government investigators who divulged them to the Wall Street Journal on Monday. The investigation has centered upon Trie's foreign fund-raising activities on behalf of president Clinton's legal defense fund. Trie was able to transfer more than $600,000 from the Red Chinese to Clinton's legal defense fund, it has been alleged.

The Bank of China is the overseas arm of China's state banking system. Until recently, it handled all foreign-exchange transactions for the country, and because of surging trade in the U.S. it had become one of the world's most profitable banks. It's assets are about $125 billion. Most of its business comes from companies that are connected with the mainland, but a large portion of its funds come from Hong Kong and Macau.

Ng Lap Seng is an adviser to the Chinese government and Trie's primary business partner. The Daily Republican has confirmed that Ng even pays for the Watergate apartment where Trie conducts his Washington D.C. contacts with the Clinton administration.

Marcus W. Brauchli, Shanghai writer for the Asian Journal reported Monday that Trie has helped to market real-estate projects Ng is developing in southern China. Apparently, Trie has been in hiding at the Hong Kong offices of Ng's companies, San Kin Yip Land Properties Ltd. and San Chung Hing Property Investment Ltd.

Trie, a foreign national of modest means actually worked for some years as a restaurateur in Little Rock, Arkansas where he became good friends with Bill and Hillary Clinton.

Trie's company, Daihatsu International Trading has its headquarters in a house in Little Rock that was also Trie's residence until Trie's $600,000 contribution to the president's legal defense fund and Trie's Red Chinese connection became the focus of FBI and Congressional investigators was made public in the Daily Republican Newspaper prior to the presidential election in 1996.

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