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Evergrande on Thursday stated its chair, Hui Ka Yan, had been positioned underneath “obligatory measures” on suspicion of crimes, amid mounting pressures on the Chinese language developer.
In an announcement on the Hong Kong inventory change, the corporate stated it had “acquired notification from related authorities” of the developments, however didn’t make clear any additional.
The announcement adopted experiences that Hui has been positioned underneath police surveillance, and up to date arrests of workers at a former wealth administration subsidiary.
Evergrande didn’t reply to an earlier request for remark.
The developer defaulted on its money owed in late 2021 and over the weekend stated an official investigation had prevented it from continuing with its restructuring plan.
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