China’s Shenzhen Intermediate People’s Court held a public trial on April 13–14
for cases involving China Evergrande Group, Evergrande Real Estate Group and
founder Xu Jiayin, according to CCTV.
Prosecutors charged the defendants with a range of offenses including illegal
fundraising, fraud, improper loan issuance, bond issuance fraud, information
disclosure violations and bribery. Xu reportedly pleaded guilty and expressed
remorse in court.
The court said it will announce the verdict at a later date.
