Evergrande, a Chinese property giant, is embroiled in an alleged $78 billion revenue fraud scandal, surpassing infamous cases like Luckin Coffee and Enron. The company's founder, Hui Ka Yan, is at the center of the controversy, accused of overestimating revenue for years. Chinese regulators have accused Evergrande of inflating revenues by $80 billion, drawing comparisons to historical fraud cases like Enron.
📺 China’s Enron moment: Markets largely ignored a regulator accusing Evergrande of inflating sales by $78 bln. It’s understandable - the property group is a mess. But the saga of the defunct US firm is a reminder that blame rarely sticks to just one company, says @AntonyMCurrie. https://t.co/lFdTclY1dD
Move over Madoff, Evergrande might have delivered the new king of fraud https://t.co/NlG6xyIcvE
Breakingviews - China property’s Enron damp squib may yet surprise https://t.co/QzQBpFGymw https://t.co/QzQBpFGymw
WHY WAS #EVERGRANDE FIGHTING BANKRUPTCY FOR YEARS⁉️ B/C THEIR EXECUTIVES WERE LYING ABOUT THE #PONZI FOR DECADES BY OVERESTIMATING THEIR REVENUE BY $78 BILLION‼️ (Just as we stated for 2+ years @metzler_dr) Founder Hui Ka Yan now stands at the center of one of the biggest… https://t.co/yk8XRBpx2J https://t.co/hOPlyeNnCA
FirstFT: Chinese regulator accuses Evergrande of inflating revenues by $80bn https://t.co/lKmE5HyJl0
I have said it before, but it bears repeating: Andrew Left @citronresearch was right after all. Evergrande's alleged $78 billion revenue fraud stands as one of the worst in history — dwarfing that of Luckin Coffee and Enron https://t.co/btC8wTs8oD via @markets
Evergrande's alleged $78 billion revenue fraud stands as one of the worst in history — dwarfing that of Luckin Coffee and Enron https://t.co/HO2KWsO0la via @markets https://t.co/VXDLozHdkc
Evergrande's alleged $78 billion revenue fraud stands as one of the worst in history — dwarfing that of Luckin Coffee and Enron https://t.co/Ga4uDGb6nT