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China Evergrande shares tumble 25% after wealth management staff detained

  • 📰 Reuters
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Shares of embattled developer China Evergrande Group plunged 25% on Monday after police detained some staff at its wealth management unit, suggesting a new investigation that could add to the property company's woes.

at its wealth management unit, suggesting a new investigation that could add to the property company's woes.

During protests by disgruntled investors at Evergrande's Shenzhen headquarters in 2021, Du Liang was identified by staff as general manager and legal representative of Evergrande's wealth management division.

 

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China police detain some Evergrande wealth management staffPolice in southern China have detained some staff at China Evergrande Group's wealth management unit, suggesting a new investigation that could add to the property giant's woes.
Source: Reuters - 🏆 2. / 97 Read more »