Evergrande: China property giant and its founder accused of $78bn fraud
Former billionaire Hui Ka Yan has been fined and faces being banned from the financial markets for life.
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Does China do death penalty in cases that didn't directly cause death?
I know they executed some executives after they poisoned like 8 babies.
I can imagine that if suïcides are directly linked it is possible. I'm just more impressed that the government is actually going to hold a billionaire accountable. This was a massive ponzi scheme that the whole world already saw a decade ago.. but it was so nice for the economic growth numbers.
Evergrande was a legit company that built things but used those buildings to raise loans AND presell, so they were double dipping and still behind on builds. Because of the way Chinese real estate is pre-sold before the build, it's very hard to know who is a legit real estate developer and who is running a ponzi scheme.
I don't think that's super unusual, at least not here in the states. My parents bought their house before it was built, for example.
It doesn't really matter, because if the party wants someone to vanish, they end up in a ditch in the middle of nowhere.
I mean sure, that's true of every state. But guys in custody rarely get suicided when a trial will have the desired outcome.
Executing a guy who caused a property bubble that caused such a huge loss of wealth for so many people seems like a desirable outcome for China; other capitalists will take note and do less fraud, and the workers will feel the system works.
What do you think would happen to the dem's popularity if in 2008, Obama dragged the executives of Wells Fargo and Bank of America out and shot them infront of the millions whose homes they stole via predatory lending and outright mortgage fraud, instead of giving them a slap on the wrist and a shitton of money?
No, it’s not true of every state.
The whole world isn’t as corrupt as China or Russia.
Umm, yes it is.
Boeing recently assassinated a whistleblower with impunity.
First off Boeing isn’t a state.
And that is purely a conspiracy that they killed him. It’s possible but there is zero evidence behind it.
