HNA units under investigation linked to embezzlement: sources

Two listed subsidiaries of HNA Group have revealed that they are subject to an investigation that sources with knowledge of the matter said may be linked to allegations that shareholders embezzled company funds and illegally used corporate assets as collateral for loans.

The investigations mark the government's latest move in untangling the risks posed by the formerly freewheeling financial conglomerate, which is now going through bankruptcy restructuring.