Alleged Chinese intelligence operative Brian Chen was negotiating for a stake in a biotech startup.
Prospect Time's chief executive,occasional Melbourne resident Brian Chen,is alleged to have been involved in a Chinese intelligence-backed scheme for Liberal Party member and Melbourne luxury car dealer Bo"Nick"Zhao,32,to win a seat in Federal Parliament. Mr Zhao reported the approach to ASIO.
The Age,Herald and60 Minutes have confirmed from multiple Western security sources that Mr Chen is a suspected senior Chinese intelligence operative,a claim Mr Chen has confirmed was put to him by Australian officials at Melbourne airport in March but which he vehemently denies.
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ASIO chief Mike Burgess issued a statement on Sunday night saying his organisation"takes seriously"and was actively investigating Mr Zhao's allegations. Mr Chen has denied knowing Mr Zhao or being involved in Chinese intelligence activities,but sources say Australian authorities have determined that Mr Chen had been in contact with Mr Zhao.
Mr Chen and Prospect Time approached startup Imunexus in June 2017 after the company took second place in a biotechnology competition in Shenzhen,China. The company is researching and developing antibodies.
Mr Kopsidas,the startup's founder,said Mr Chen offered almost $10 million to buy a majority stake in the company,and claimed he had"hundreds of millions"in financial backing to turn Imunexus'antibody technology into a saleable product.
"What Brian wanted to do was to start a full-on biotech company in Australia,a pharmaceutical company,"said Mr Kopsidas."He wanted to develop products and take them into manufacturing and marketing and sales."