Police in a southern Chinese city said they have detained some staff at China Evergrande Group’s wealth management unit in the latest trouble for the heavily indebted developer.
Evergrande is the world’s most heavily indebted real estate developer, at the centre of a property market crisis that is dragging on China’s economic growth.
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Chinese Police Detain Some Staff of Evergrande Wealth Unit(Bloomberg) -- Chinese authorities detained some staff of China Evergrande Group’s money management business, a sign that the saga around the defaulted developer at the heart of the nation’s property crisis has entered a new phase involving the criminal justice system.Most Read from BloombergUltra-Rich Buy Ultra-Luxury Counseling to Get Kids Into HarvardDisney Talks on ABC Sale Heat Up as Byron Allen Makes OfferCanada Postpones Trade Mission to India With Tensions On RiseMGM Resorts Hackers Brok
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