China’s Evergrande property conglomerate and its founder are charged with $78 billion in fraud.

Evergrande: China property giant and its founder accused of $78bn fraud
Struggling Chinese property giant Evergrande and its founder, Hui Ka Yan, have been accused of inflating revenues by $78bn (£61.6bn) in the two years before the firm defaulted on its debt. The country’s financial markets regulator has fined the company’s mainland business Hengda Real Estate $583.5m