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Chinese authorities accuse Evergrande of inflating revenues by $80bn https://t.co/mH38Tr1TNQ
#China's securities regulator imposed 4.2 bn yuan fine on China Evergrande's unit Hengda Real Estate over suspected fraudulent behaviors. Hengda Real Estate inflated 2019 & 2020 revenue by total 564 bn yuan, said regulator.
JUST IN: #EVERGRANDE FINED 4.2 $CNY OVER SUSPECTED FRAUDULENT ISSURANCE OF CORPORATE BONDS ⚠️ Few questions here: 1 - How can they pay it 2 - If they can pay what’s left for creditors 3 - How many other companies meets the same criteria….. https://t.co/fjGcBesjJd https://t.co/LYvIxBDyYw
Chinese authorities have taken action against executives at Zhongzhi Enterprise Group, a key player in China's shadow banking sector. Binance faces a $4.3 billion fine, with a $900 million installment due by March 25. Evergrande is fined 4.2 billion yuan for suspected fraudulent bond issuance and inflating revenues by 564 billion yuan.