Chinese regulators have accused Evergrande and its founder of inflating revenues by $78 billion, putting the insolvent property developer at the heart of the country’s biggest ever financial fraud …
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Evergrande founder Hui Ka Yan was once China’s richest person. Beijing now accuses him of inflating his company’s revenue by almost $80 billion
The allegations from China’s securities regulator will put Evergrande at the center of a fraud case that dwarfs scandals from Luckin Coffee or Enron.