Chairman of China Evergrande Group, Hui Ka Yan, detained in Shenzhen amid financial crisis.
Hui Ka Yan, chairman of China Evergrande Group, has been moved to a special detention center in Shenzhen amid the company’s financial crisis. He has not been seen publicly for a year and was fined $6.6 million for securities fraud. Despite Evergrande's $300 billion liabilities and recent liquidation order, Hui has not been formally charged with any crimes, and the duration of his detention remains uncertain.
September 12, 2024
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