Evergrande: China property giant and its founder accused of $78bn fraud
Evergrande: China property giant and its founder accused of $78bn fraud
Former billionaire Hui Ka Yan has been fined and faces being banned from the financial markets for life.
Imagine living in a country where the rich are actually subject to the laws like everyone else...
Not exactly ... they still treated with special previllages, its just this is bit too much
What special privileges are they treated with?
Fun fact: his last name means a 'dick' in Polish (the most vulgar version of that word).
Not only in Polish. Pretty sure it's most of Eastern Europe. 🤭
Sucks to suck. This guy should be OK though, based on the CCPs history of fair trials and lenient sentencing.
Uh-huh: https://en.wikipedia.org/wiki/Incarceration_in_the_United_States
The United States has the largest known prison population in the world, it has 5% of the world's population, and 20% of the world's incarcerated persons. China, with four times more inhabitants, has less persons in prison.
Uh-huh:
https://deathpenaltyinfo.org/policy-issues/international/executions-around-the-world
As in previous years, execution totals do not include the estimated thousands of executions carried out by the world’s leading executioner, China, where execution data is considered a state secret; ...
He is fucked.. he is a dead man..
lol
Chinese do not fool around. I expect they will make an example of this guy.
Now do Ken Griffin
How do you recover that? How the hell are they going to recover what is essentially multiple time the sum of the wealth of all the top 10 richest individuals on earth???
multiple time the sum of the wealth of all the top 10 richest individuals on earth???
Do you mean the $78B fine or the $300B debt?
In either case, you're way over exaggerating. All of the top 14 wealthiest people have over $100B each. Jeff Bezos (#2 richest) has close to $200B alone.
By locking up the rich, seizing their wealth, and using SOEs to take over incomplete projects for pennies.
Presumably they won’t recover, because the Chinese state isn’t coming to their rescue: China’s housing minister says real estate developers must go bankrupt if necessary
You don't, the investors loose the money. That's the risk that they take investing in a business.
