"Beijing Accuses Evergrande of $78 Billion Fraud in China Property Crisis"
TL;DR Summary
Beijing has accused Evergrande of inflating revenue by $78 billion in 2019 and 2020, leading to fines and a lifetime ban for its founder. This comes as the fallen Chinese real-estate giant faces liquidation amid a debt crisis. The crackdown serves as a warning to other defaulting developers in China's property market, with fears that the crisis could have broader domestic and global economic implications.
- China property crisis: Beijing accuses Evergrande of $78 billion fraud Business Insider
- China Accuses Evergrande of $78 Billion Fraud, Worse Than Luckin and Enron Bloomberg
- Evergrande: Chinese firm and founder fined over $78bn fraud claims The Guardian
- Biggest fraud in Chinese history? Beijing accuses Evergrande of inflating revenues by $78 billion CNN
- Breakingviews - China property's Enron damp squib may yet surprise Reuters
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