China Evergrande Founder Pleads Guilty to Fraud in Shenzhen Trial

MT Newswires Live04-15

The founder of China Evergrande (HKG:3333), Xu Jiayin, pleaded guilty to eight charges, including misuse of funds, fundraising fraud, and illegally taking public deposits, Xinhua News Agency reported Tuesday, citing The Shenzhen Intermediate People's Court.

Prosecutors also accused Xu of illegally granting loans. They charged China Evergrande Group and its unit, Evergrande Real Estate Group, with offenses including fraudulent issuance of securities.

In 2024, China's securities regulator fined Xu $6.6 million and barred him from the securities market for life after finding Evergrande's flagship unit had inflated earnings and committed securities fraud.

Creditors have lodged claims totaling about HK$350 billion, while liquidators have taken control of more than 100 subsidiaries and reported asset sales of about HK$2 billion since early 2024.

The company's debt troubles surfaced in December 2021 when it first defaulted on a US dollar bond.

In 2024, a Hong Kong court ordered Evergrande's liquidation, with the company later delisted, ending one of China's most high-profile property collapses.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2627797354?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-04-15 10:07","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2627797354","market":"fut","top_or_hot":-1,"title":"China Evergrande Founder Pleads Guilty to Fraud in Shenzhen Trial","media":"MT Newswires Live","content":"<html><body><p> The founder of China Evergrande (HKG:3333), Xu Jiayin, pleaded guilty to eight charges, including misuse of funds, fundraising fraud, and illegally taking public deposits, Xinhua News Agency reported Tuesday, citing The Shenzhen Intermediate People's Court.</p><p>Prosecutors also accused Xu of illegally granting loans. They charged <a href=\"https://laohu8.com/S/EGRNF\">China Evergrande Group</a> and its unit, Evergrande Real Estate Group, with offenses including fraudulent issuance of securities.</p><p>In 2024, China's securities regulator fined Xu $6.6 million and barred him from the securities market for life after finding Evergrande's flagship unit had inflated earnings and committed securities fraud.</p><p>Creditors have lodged claims totaling about HK$350 billion, while liquidators have taken control of more than 100 subsidiaries and reported asset sales of about HK$2 billion since early 2024.</p><p>The company's debt troubles surfaced in December 2021 when it first defaulted on a US dollar bond.</p><p>In 2024, a Hong Kong court ordered Evergrande's liquidation, with the company later delisted, ending one of China's most high-profile property collapses.</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>China Evergrande Founder Pleads Guilty to Fraud in Shenzhen Trial</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChina Evergrande Founder Pleads Guilty to Fraud in Shenzhen Trial\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1092851196\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">MT Newswires Live </p>\n<p class=\"h-time\">2026-04-15 10:07</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p> The founder of China Evergrande (HKG:3333), Xu Jiayin, pleaded guilty to eight charges, including misuse of funds, fundraising fraud, and illegally taking public deposits, Xinhua News Agency reported Tuesday, citing The Shenzhen Intermediate People's Court.</p><p>Prosecutors also accused Xu of illegally granting loans. They charged <a href=\"https://laohu8.com/S/EGRNF\">China Evergrande Group</a> and its unit, Evergrande Real Estate Group, with offenses including fraudulent issuance of securities.</p><p>In 2024, China's securities regulator fined Xu $6.6 million and barred him from the securities market for life after finding Evergrande's flagship unit had inflated earnings and committed securities fraud.</p><p>Creditors have lodged claims totaling about HK$350 billion, while liquidators have taken control of more than 100 subsidiaries and reported asset sales of about HK$2 billion since early 2024.</p><p>The company's debt troubles surfaced in December 2021 when it first defaulted on a US dollar bond.</p><p>In 2024, a Hong Kong court ordered Evergrande's liquidation, with the company later delisted, ending one of China's most high-profile property collapses.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"03333","symbol_name":"中国恒大","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2627797354","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2627797354","pubTimestamp":1776218839,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"The founder of China Evergrande , Xu Jiayin, pleaded guilty to eight charges, including misuse of funds, fundraising fraud, and illegally taking public deposits, Xinhua News Agency reported Tuesday, citing The Shenzhen Intermediate People's Court.Prosecutors also accused Xu of illegally granting loans. They charged China Evergrande Group and its unit, Evergrande Real Estate Group, with offenses including fraudulent issuance of securities.In 2024, China's securities regulator fined Xu $6.6 million and barred him from the securities market for life after finding Evergrande's flagship unit had inflated earnings and committed securities fraud.Creditors have lodged claims totaling about HK$350 billion, while liquidators have taken control of more than 100 subsidiaries and reported asset sales of about HK$2 billion since early 2024.The company's debt troubles surfaced in December 2021 when it first defaulted on a US dollar bond.In 2024, a Hong Kong court ordered Evergrande's liquidation, wit","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"03333":"中国恒大","BK1240":"房地产开发","BK1598":"恒大概念","BK1507":"粤港澳大湾区","BK1555":"内房股"},"translate_title":"中国恒大创始人在深圳审判中承认欺诈","themeId":"f6f7c9f6a0174df79daf9f1dfd21f836","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"03333":1},"content_text":"The founder of China Evergrande (HKG:3333), Xu Jiayin, pleaded guilty to eight charges, including misuse of funds, fundraising fraud, and illegally taking public deposits, Xinhua News Agency reported Tuesday, citing The Shenzhen Intermediate People's Court.Prosecutors also accused Xu of illegally granting loans. They charged China Evergrande Group and its unit, Evergrande Real Estate Group, with offenses including fraudulent issuance of securities.In 2024, China's securities regulator fined Xu $6.6 million and barred him from the securities market for life after finding Evergrande's flagship unit had inflated earnings and committed securities fraud.Creditors have lodged claims totaling about HK$350 billion, while liquidators have taken control of more than 100 subsidiaries and reported asset sales of about HK$2 billion since early 2024.The company's debt troubles surfaced in December 2021 when it first defaulted on a US dollar bond.In 2024, a Hong Kong court ordered Evergrande's liquidation, with the company later delisted, ending one of China's most high-profile property collapses.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-2","news_tag":"executive","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.0","shortVersion":"4.42.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2627797354","isCrawlerRequest":true}