Posted on 09/28/2023 1:58:29 PM PDT by nickcarraway
Heavily indebted property giant China Evergrande said on Thursday (Sep 28) its boss was suspected of "illegal crimes" after trading of its shares was suspended earlier in the day.
The company announcement to the Hong Kong Stock Exchange comes a day after media reports that Xu Jiayin was being held by police. No specific reason was given for the decision to suspend share trading, which also affected the company's property services and electric vehicle units.
But late Thursday, the company said it had "received notification from relevant authorities" that Xu "has been subject to mandatory measures in accordance with the law due to suspicion of illegal crimes", without giving further details.
(Excerpt) Read more at channelnewsasia.com ...
Organ sale in Aisle 7.
Is Letitia James bringing charges?
There are legal crimes? Which are they?
Bkmk
Every Chicom is a criminal.
These are power struggles.
Well, this is China. If Chairman Xi approve of your crime, then its legal!
Failed to kick up to the boss..
Maybe Merrick Garland could give him some pointers.
Who knows with these things. The person may indeed have been a crook. And probably also had heavily political pressure to borrow and keep building even as demand was shrinking. There’s no winning when the government forces you to act in an uneconomical manner.
True that. There’s also the possibility that the ChiComs are making any excuse to halt trading while stock price is dropping.
Sure. Someone has to be the patsy.
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