The authorities have arrested several managers of the asset management division.
(Photo: AP)
Beijing In southern China, police have arrested some managers of the asset management division of heavily indebted real estate developer Evergrande. “Public security organs recently took criminal enforcement measures against Du and other suspected criminals at Evergrande Financial Wealth Management Co.,” Shenzhen city police said Saturday night.
During protests at Evergrande’s headquarters in 2021, participants named Du Liang as general director and legal representative of the asset management company. At first it could not be verified that you were among those arrested.
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The police did not say how many people other than Du were arrested or when. She also did not provide any details about investment points. However, she called on investors to report financial crimes.
No statement was initially available from China Evergrande on Sunday. Shenzhen-based Evergrande Financial Wealth Management Co. is a wholly owned subsidiary of Evergrande founded in 2015.
China Evergrande, the world’s most indebted real estate company, ran into trouble two years ago after China’s real estate bubble burst, but has so far avoided a disorderly collapse. In mid-August, it applied for protection from creditors in the USA as part of its restructuring.
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