Why Was There A Criminal Investigation If Angela Chao’s Death Was Ruled “An Accident” Before?
Foremost Group CEO Angela Chao’s untimely death was due to intoxication, according to a police report released on Wednesday. The shipping magnate was reportedly intoxicated when she inadvertently drove her Tesla X SUV into a pond on the Texas ranch she shared with her husband, billionaire venture capitalist Jim Breyer.
The report revealed that Chao, aged 50, drowned after efforts by friends and rescue workers to extricate her from the submerged vehicle proved futile. It was determined that she perished in what authorities described as an “unfortunate accident.”
Further investigation unveiled that Chao had a blood-alcohol concentration of .233, nearly three times the legal limit for driving on public roads in Texas. Surveillance footage captured her walking unsteadily to her vehicle prior to the incident.
The “accident”
Chao had been hosting seven close female friends at their ranch, following a gathering that included dinner and drinks. The group had attended a concert in nearby Austin the previous day. Notably, Chao’s husband was reportedly away in Dubai at the time, while their child was at the main house on the ranch.
The tragedy unfolded when Chao left the guest house around 11:30 p.m. to drive approximately one mile to the main house. Investigators determined that her Tesla collided with a retaining wall near the pond, subsequently becoming airborne and landing in the water. A video shows the car first moving forward towards a wooden barrier, then reversing left without stopping and going over the wall made of big rocks.
Shortly after leaving, Chao called her friend Amber Landeau-Kienan and calmly said she was in the “lake” (pond), according to the report. Kienan went outside and saw the Tesla in the pond, which was about 30 feet from the guesthouse.
“Chao, who is still on the phone with Keinan, tells Keinan in a [calm] voice her feet are under water,” the report said. “Keinan tells Chao to get out of the vehicle. In a calm voice, Chao informs Kienan she is not able to get out of the vehicle.”
Chao told Kienan the water was rising and she thought she was going to die, saying “I love you” to Kienan before the car went under.
Kienan said the call lasted about eight minutes, and she got into a kayak to paddle towards the Tesla, while another friend, Victoria Garcia, ran to the pond and swam towards the sinking Tesla. Garcia then climbed on top of the Tesla to try to find Chao. A third friend, Heela Yang Tsuzuki, called 911, the report added.
When one sheriff’s deputy arrived with another deputy, he saw the ranch manager standing on top of the fully submerged vehicle, about 25 yards from shore, while Kienan paddled towards shore.
The ranch manager told the deputies the rear passenger door of the Tesla was open, the report stated. Both deputies went into the pond and tried several times to find Chao through the back door but couldn’t.
“While we were there, several women on the bank were screaming at us frantically,” the deputy wrote. “They said they knew she was in the water because Chao called them and said the car was filling up with water.”
The deputy then got a breaker bar from Blanco County firefighters and swam back to try to break the windshield but couldn’t. Two medics swam out to help him break a side window on the SUV. “I swam down and felt a hand,” the deputy wrote.
Chao was pulled from the vehicle, and the medics swam back to shore with her and started performing CPR. She was pronounced dead at 1:40 a.m. on February 11th.
The criminal investigation
Several days following the incident, on February 15th, Texas Rangers and FBI agents met with the Blanco County Sheriff’s Office (BCSO), which spearheaded the investigation.
Authorities concluded that “this incident was nothing more than an unfortunate accident” following a thorough review of evidence and reports.
However, the circumstances surrounding her death have sparked speculation and raised eyebrows, given her prominent affiliations and recent geopolitical tensions. Chao’s ties to China, through her position on the board of state-owned Bank of China and other entities, have drawn attention, particularly in light of recent geopolitical tensions and sanctions imposed on Chinese companies.
Her husband, Jim Breyer, a notable venture capitalist invested in China, has halted investments in Chinese tech firms due to his firm’s classification as a ‘Chinese military company’ by the U.S. Department of Defense. Additionally, Chao’s company, China Shipbuilding Corporation, encountered sanctions from the Biden administration, contributing to the intricacies surrounding her tragic death.
Chao’s death, attributed to backing her Tesla into a pond on her ranch, has sparked suspicions, including speculation about foul play or technological interference. Questions have been raised about the thoroughness of the investigation, considering international implications and the potential involvement of sophisticated actors.
“Was her Tesla hacked? I’m not sure the Blanco County Sheriff has the tools necessary to investigate this internationally charged, suspicious death,” questioned Hayman Capital Management CIO Kyle Bass when the news first broke.
Curiously, it was reported that the BCSO declined State Police assistance in the initial investigation, raising concerns along with the absence of an autopsy, the swift return of Chao’s car to her family, and inadequate evidence preservation.
“It’s a rare occasion in history when a local sheriff turns down the investigative help from such a well respected and storied organization as the Texas Rangers,” Bass continued. “Why is that?! Does the Blanco County Sheriff have the technical capacity to investigate the Tesla Logs to determine if the car was tampered with or even hacked?”
Earlier this month, it was reported that Chao’s death was being investigated as a crime. Multiple media outlets report that a letter sent to Texas Attorney General Ken Paxton from BCSO describes the crash as “not a standard accident.”
Chao, a Harvard graduate with a bachelor’s degree in economics, was known for her leadership in the shipping industry and her contributions to maritime education and philanthropy. Her passing also impacted the political sphere, with her brother-in-law, Senate Minority Leader Mitch McConnell, announcing his decision to step down from his leadership position at the end of the year, adding Chao’s death as a contributing factor to the move.
Information for this briefing was found via CNBC and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
