Family relatives of Chinese premier Wen Jiabao have hidden wealth of at least $2.7 billion

The family members of China’s Wen Jiabao, once nicknamed “the People’s Premier” for his reputation as a down-to-earth reformist, have become extraordinarily wealthy during his tenure. Wen’s relatives, including his wife and son have accumulated shares in businesses over which the official has broad authority like banks, jewelers, real estate and telecommunications companies, a New York Times investigation found. The relatives control assets worth at least $2.7 billion. The revelation comes at a time when China’s Communist Party is trying to rehabilitate its image ahead of a leadership change in November and after a high-ranking Chinese official, Bo Xilai, was exposed for taking bribes and helping cover up the murder of a British businessman by his wife.