Property developer fined $580m and its chairman, Hui Ka Yan, fined $6.5m for allegedly falsifying its revenues
The troubled Chinese property developer Evergrande and its founder have been fined over allegations that they fraudulently inflated its revenues by $78bn (£61.6bn) in the two years before it began missing debt repayment deadlines.
Beijing’s stock watchdog fined the company about $580m for allegedly falsifying its revenue, among other violations, as it conducts a deep clean of the country’s embattled financial sector.
About Author
More Stories
Osamu Suzuki obituary
How could Trump’s second term affect DEI initiatives in the US?
Americans stocking up on foreign goods before Trump tariffs: ‘a sense of urgency’