China Evergrande founder pleads guilty to fraud in Shenzhen court - Reuters

China Evergrande founder pleads guilty to fraud in Shenzhen court  Reuters

Founder of China's Evergrande pleads guilty to fraud

The businessman was accused of several crimes, including fundraising fraud and bribery.

China: Evergrande property developer founder pleads guilty

China's property developer giant has become its also its most indebted and defaulted on most of its liabilities and payments in 2021. Founder Hui Ka Yan "pleaded guilty and expressed remorse," the court said.

Founder of China’s Evergrande Group Hui Ka-yan pleads guilty in fraud trial

As part of a public trial held by the Shenzhen Intermediate People’s Court, China Evergrande Group founder and former chairman Hui Ka-yan admitted guilt and expressed remorse over a set of charges including embezzlement of corporate assets and corporate bribery, according to a statement issued by the court. The trial was held on Monday and Tuesday, and the court will issue its judgement at a later date. More to follow ...

By Peggy Sito

China Evergrande founder Hui Ka Yan pleads guilty to fraud

Hui and Evergrande also face charges of illegally extending loans, fraudulently issuing securities and bribery, says a Shenzhen court.

Founder of China’s Evergrande pleads guilty to fraud, court says

The founder of Chinese property giant Evergrande has pleaded guilty to charges of fraud and bribery, a court said on Tuesday, in the latest blow for what was once the country’s leading developer. Evergrande’s rise was propelled by decades of rapid urbanisation and rising living standards, but in 2020, its access to credit dramatically narrowed […]

By AFP