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submitted 11 months ago by MicroWave@lemmy.world to c/world@lemmy.world

Shares in crisis-hit Chinese property giant Evergrande have been suspended in Hong Kong amid reports its chairman has been placed under police surveillance.

It follows reports earlier this week that other current and former executives had also been detained.

Thursday's market statement did not give a reason for the trading halt.

But it marks another low for the heavily indebted property giant which defaulted in 2021, triggering China's current real estate market crisis.

In August, the firm filed for bankruptcy in New York, in a bid to protect its US assets as it worked on a multi-billion dollar deal with creditors.

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[-] bernieecclestoned@sh.itjust.works -1 points 11 months ago

Yes, innocent until proven guilty

[-] Jakeroxs@sh.itjust.works 2 points 11 months ago

He literally turned himself in and admitted to his crimes before then

[-] bernieecclestoned@sh.itjust.works 0 points 11 months ago

You go to jail when sentenced, not before.

[-] Jakeroxs@sh.itjust.works 1 points 11 months ago

People get detained and arrested prior to being sentenced though

[-] bernieecclestoned@sh.itjust.works 1 points 11 months ago

Sure, and then they have a bail hearing

[-] Jakeroxs@sh.itjust.works 1 points 11 months ago

Good thing rich people never have a hard time with that

[-] bernieecclestoned@sh.itjust.works 1 points 11 months ago

Most people make bail, unlike Sam Bankman Fried

He fucked with the wrong people

[-] Jakeroxs@sh.itjust.works 1 points 11 months ago

Lol or didn't get enough dirt on them to keep them from coming after him :p

this post was submitted on 28 Sep 2023
214 points (99.1% liked)

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