Market Chatter: China Evergrande Group's Chairman May Be Detained in Shenzhen
The chairman of China Evergrande Group (HKG:3333), Hui Ka Yan, was moved to a special detention center in Shenzhen, Reuters reported Thursday citing two sources with knowledge of the matter.
Hui was arrested by Chinese authorities a year ago, and his whereabouts since have not been reported. One of the company's units inflated its earnings and was ordered into liquidation in January. Hui was fined $6.6 million and banned from the securities market for life, Reuters said.
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