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Hong Kong CNN —
Chinese regulators have accused Evergrande and its founder of inflating revenues by $78 billion, putting the insolvent property developer at the heart of the country’s biggest ever financial fraud case.
The China Securities Regulatory Commission (CSRC) slapped a penalty of 4.175 billion yuan ($580 million) on Hengda Real Estate, the group’s main Chinese unit, the company said in filings to the
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