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Six Evergrande Executives Fined for Early Redemption of Investments

Six executives who redeemed Evergrande wealth investment products in advance have returned all the money they received to the designated accounts of Evergrande Wealth, China Evergrande Group announced on the homepage of its official website on Oct. 9; the Group also said the six have been held accountable and punished. Previously, Evergrande Group said in a statement on Sept. 18 that six executives redeemed 12 investment products in advance from May 1 to Sept. 7. All of them are high-level executives at the headquarters or the Group’s provincial branches. The announcement on Sept. 18 also claimed that Evergrande would “strictly follow the published repayment plan” and that “Evergrande’s middle-level and higher-level employees must stick to their posts.” Evergrande Group released an announcement on Sept. 30 introducing the situation of the redemption of Evergrande Wealth: “Evergrande Financial Wealth Management (Shenzhen) Co., Ltd. has completed the payment of the first 10 percent …

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