this post was submitted on 28 Sep 2023
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Shares in crisis-hit Chinese property giant Evergrande have been suspended in Hong Kong amid reports its chairman has been placed under police surveillance.

It follows reports earlier this week that other current and former executives had also been detained.

Thursday's market statement did not give a reason for the trading halt.

But it marks another low for the heavily indebted property giant which defaulted in 2021, triggering China's current real estate market crisis.

In August, the firm filed for bankruptcy in New York, in a bid to protect its US assets as it worked on a multi-billion dollar deal with creditors.

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[–] [email protected] -5 points 1 year ago* (last edited 1 year ago) (1 children)

If you're poor sure, but not CEOs for white collar crime

Bernie Madoff was out and about until convicted

[–] [email protected] 11 points 1 year ago (1 children)

Is that supposed to be a good thing?

[–] [email protected] -1 points 1 year ago (1 children)

Yes, innocent until proven guilty

[–] [email protected] 2 points 1 year ago (1 children)

He literally turned himself in and admitted to his crimes before then

[–] [email protected] 0 points 1 year ago (1 children)

You go to jail when sentenced, not before.

[–] [email protected] 1 points 1 year ago (1 children)

People get detained and arrested prior to being sentenced though

[–] [email protected] 1 points 1 year ago (1 children)

Sure, and then they have a bail hearing

[–] [email protected] 1 points 1 year ago (1 children)

Good thing rich people never have a hard time with that

[–] [email protected] 1 points 1 year ago (1 children)

Most people make bail, unlike Sam Bankman Fried

He fucked with the wrong people

[–] [email protected] 1 points 1 year ago

Lol or didn't get enough dirt on them to keep them from coming after him :p