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Evergrande Group, Evergrande Real Estate, Hui Ka Yan Case Heard in 1st Instance; Hui Pleads Guilty, Awaits Sentencing
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The Shenzhen Intermediate People's Court announced via its WeChat official WeChat account that, from yesterday to today (13-14 April), the Shenzhen Intermediate People's Court of Guangdong Province held a public hearing and trial for the case prosecuted by the Shenzhen People's Procuratorate against defendant unit, Evergrande Group Co., Ltd., for illegal absorption of public deposits, fundraising fraud, illegal issuance of loans, fraudulent issuance of securities, illegal disclosure of important information and unit bribery; and defendant unit, Evergrande Real Estate Group Limited, for fraudulent issuance of securities; and defendant Hui Ka Yan for illegal absorption of public deposits, fundraising fraud, illegal issuance of loans, illegal use of funds, fraudulent issuance of securities, illegal disclosure of important information, official embezzlement and unit bribery. During the trial, the court presided over the examination of evidence and arguments between the prosecution and the defense regarding the alleged facts, and the defendant units and Hui made their closing statements. Hui pleaded guilty and expressed remorse in court. The court will announce its verdict at a later date. Auto-translated by AI AASTOCKS Financial News |
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