Thursday, 28 September 2023

Evergrande founder ‘being investigated for suspected crimes’

Chinese group’s statement about chairman piles on the woe for once top-selling property developer

The founder of China’s Evergrande is being investigated over suspected “illegal crimes”, the group has said, as creditors become increasingly concerned about the prospects of the world’s most indebted property developer.

Evergrande Group, which has more than $300bn in total liabilities, did not say whether Hui Ka Yan was still in a position to run the company, or what crimes he was being investigated for.

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from World news | The Guardian https://ift.tt/nQU2y40

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