China Evergrande: key director at EV subsidiary arrested for unspecified crimes
Another key executive within the debt-laden China Evergrande group has been detained by mainland authorities, three months after the arrest of its founder Hui Ka-yan.
Chinese authorities arrested a key executive from the troubled China Evergrande Group for unspecified crimes, more than three months after detaining the group founder Hui Ka-yan, presenting another major hurdle to its debt reorganisation.
Liu, 42, joined the Evergrande group in December 2003 and was made chairman of Evergrande Football Club, Evergrande Spring Water Group and Evergrande High-Tech Group, according to the NEV maker’s 2022 annual report. He had 21.7 million shares, or a 0.22 per cent stake, and stock options in the company.