Hui Ka Yan founded Evergrande in 1997 and his personal fortune was estimated by Bloomberg in 2021 at a good six billion US dollars. He and other executives are accused of artificially inflating the company's revenue by more than 560 billion yuan in 2019 and 2020 and issuing bonds based on the false information.
The Securities and Exchange Commission also fined the company 4.2 billion yuan and punished other executives. The group is present in more than 280 Chinese cities and is one of the largest private companies in the People's Republic.