HONG KONG -- Troubled property developer China Evergrande Group said Thursday evening that founder and Chairman Xu Jiayin is suspected of committing crimes, the latest sign of distress at the debt-laden company.
In a filing in English to the Hong Kong Stock Exchange, China Evergrande said the company "received notification from relevant authorities" that Xu, also known as Hui Ka-yan, has been "subject to mandatory measures in accordance with the law due to suspicion of illegal crimes."
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