China Evergrande Fraudulently Boosted Sales

 Founder Hui Ka Yan is given lifetime ban by Chinese markets panel

The China Securities Regulatory Commission found Hengda had substantially inflated crucial reported financials in 2019 and 2020, and relied on those misleading figures to sell bonds. 

It judges sales were overstated by a total of 564.1 billion yuan over the two years, or the equivalent of $78.4 billion. 

Rebecca Feng Bloomberg 18 March 2024

Evergrande of $78 Billion Fraud Among Worst Ever

Evergrande’s alleged fraud dwarfs that of Luckin Coffee and Enron.

Blooomberg 19 March 2024

China Evergrande Group received a liquidation order from a Hong Kong court

Bloomberg 29 January 2024

How the World’s Priciest Property Market Stumbled

Reversal of fortune for Hong Kong’s housing market is a symbol of the city’s malaise, and a fiscal headache for the government

Wall Street Journal 29 February 2024


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