China Evergrande and its founder accused of $78 billion fraud
中国恒大及其创始人被指控欺诈780亿美元
Evergrande, the beleaguered Chinese property behemoth, and its founder, Hui Ka Yan are accused of inflating revenues by a staggering $78 billion in two years leading up to the company’s debt default. The China Securities Regulatory Commission (CSRC) has slapped Evergrande’s flagship unit, Hengda Real Estate, with a hefty fine of $583.5 million for this alleged malpractice. Hui could also be hit with a lifetime ban from China’s financial markets and a fine of $6.5 million.
陷入困境的中国房地产巨头恒大及其创始人许家印被指控在两年内将收入夸大了惊人的780亿美元，导致该公司债务违约。中国证券监督管理委员会（中国证监会）对恒大的旗舰公司恒大地产处以5.835亿美元的巨额罚款。许还可能被终身禁止进入中国金融市场，并被处以650万美元的罚款。
