Biggest Fraud in Chinese History Revealed?

The world’s most indebted property developer is being accused of the biggest fraud case ever in Chinese history.

Chinese regulators are accusing Evergrande and its founders of inflating its revenue by $78 billion dollars.

The China Securities Regulatory Commission has slapped the group’s main unit, Hengda Real Estate with a $580 million dollar penalty.

The founder and chairman of the Evergrande Group has been hit with a separate fine and has been barred from the securities market for life.

After a months-long investigation, regulators charge that Evergrande inflated sales in its financial reports and used those allegedly falsified figures to sell bonds.

They also say the group failed to disclose relevant information, as required.

[billc]

All Chinese companies cook their books. There is no exception. Even the Chinese restaurants in your neighborhood cook their books.

[davidhynes]

$78, 000, 000, 000, OMG hang on a minute now, I just had a coffee at Starbucks, and they gave me some change back, I might have that in my pocket.

[DavidCooper-vhnr]

TikTok is full of young people who are desperately seeking approval and validation.
It's obviously viewed for it's entertainment value. What they're not understanding is that people aren't laughing with them, they're laughing at them.
Instagram is a close second, especially for young woman, but the difference there is that they're exploiting their sexuality instead.
In my view Only Fans should be banned as well. Sexploitation at it's finest.

[DavidCooper-vhnr]

That's all well and good, but who's going to enforce the fine?
Unless the properties are sold, there are no teeth to the court's decision.
Corruption is endemic to all levels of government and business.

[michaelarnold]

I'm happy to say that I never took the Tiktok plunge!

[Shinobubu]

Finland is a small country with an much smaller amount of people. It's much easier to keep a small population happy than a much much larger one.

[gaerekxenos]

4 day work week honestly sounds ideal. I worked 6 days a week before and that left basically no time to rest - that last day wasn't a rest day, it was a "do whatever chores ended up piling up" day. 5 days allows for one full day dedicated to rest, but 2 days allotted fully to rest with a 4 day work week would really allow people to unwind properly with one day for chores/catch-up (that could be spread out amongst the 3 days). It'd help a lot with burnout and related. Though, I can see why companies might not want 4 day workweeks since that means people have time off from the grind to do other things and potentially build something up to eventually leave the job...

[RichardGonzalez-me]

The U.S. needs to cut government just like they did in Argentina, it needs to cut all the useless spending.

[levin]

Evergrande "I used standard CCP practices, what is the problem"

[RichardGonzalez-me]

Tic Toc has to go, it needs to be banned in the United States.

[SimonCU]

Why all negative news? Is this fake news? We also need to hear positive stuff too or it will be considered fake news.

[annehersey]

Actually, I think the32 hour workweek would HELP Businesses. Government agencies could be open on Saturdays by having workers stagger their days off.

[mikeshoults]

The problem is India's infrastructure and nightmarish bureaucracy.

[arfajob]

2:46 Well done India, grab this opportunity with all your might & don't your government make the same mistakes the China government made. 👍

[motsang]

No work and live free is the most poisonous idea in western societies.

[davidhynes]

The US's biggest trading partners now are Mexico and Canada.

[JeffWade-jqib]

Everglades could President in the US.

[PrayerPartnerExtraordinaire]

This newscaster is totally drunk. It's a shame

[phuachongboon]

Nothing new. Have rot since centuries ago. 😅😂 y wait until recently? 😅

[sosipin]

What...??? life cost high in China 😋😜😁🐮🐄🤡🤡🤡