According to details laid out in a federal search warrant, agents were seeking evidence related to an investigation into an array of potential crimes, including bribery, kickbacks, extortion, and money laundering. They are apparently focusing on real estate development downtown, particularly several high-rise projects bankrolled by foreign investors. In addition to the city officials, the warrant names several executives of Chinese firms, and seeks records relating to their hotels and other developments.
Source: latimes.com – Los Angeles Times