China has put Hui Ka Yan, the billionaire founder of Evergrande, under police control, while fears are growing about the fate of the Shenzhen group, now at risk of survival. This is what Bloomberg reports, quoting anonymously Percone aware of the situation.
Hui, whose Mandarin name is Xu Jiayin, was taken away by officers in early September and "is being monitored in a designated location," in a state of "home surveillance" that does not involve arrest or specific charging of crimes.
Evergande is the most indebted real estate developer in the world, with charges of over $300 billion.
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