China's Second-Largest Property Giant Evergrande Accused Of $78B Fraud, Founder Hui Ka Yan Faces Legal Peril
China's Evergrande Group has been accused of a massive fraud, with its founder Hui Ka Yan at the center of the controversy. The company's onshore unit, Hengda, is alleged to have inflated its revenue by $78 billion, leading up to its default in 2020.
