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

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

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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

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