Evergrande, a major Chinese real estate company, is accused of inflating its revenues by $78 billion, an amount that has been described as one of the worst frauds in history, surpassing those of Luckin Coffee and Enron. Founder Hui Ka Yan is now at the center of the scandal, which has been unfolding as the company has been fighting bankruptcy for years. This revelation has sparked comparisons to the Enron scandal, with some commentators suggesting that Evergrande's situation could have wider implications for the market, similar to the aftermath of Enron's collapse. Andrew Left of Citron Research, who had previously raised concerns about Evergrande's financial health, has been vindicated by these developments. The Chinese regulator's accusation, stating a figure of $80bn, has led to discussions about the broader practices of revenue inflation among companies from China to the US. Despite the magnitude of the fraud, the market's reaction has been relatively muted, with some analysts suggesting that the impact of Evergrande's fraudulent activities might not be fully appreciated yet.