Evergrande chairperson under scrutiny for offshore asset transfers
Image Credit: NewsBytes
China Evergrande Group's chairperson, Hui Ka Yan, is in hot water as he's being investigated for possibly moving assets offshore. This comes at a time when the debt-ridden property developer is trying to finish projects and restructure its offshore debt, according to the Wall Street Journal. With over $300 billion in liabilities, Evergrande has become the poster child for China's property sector debt crisis. The investigation into Yan's actions only adds more fuel to the fire.