GUANGZHOU -- An independent investigation into property giant China Evergrande Group found that weak internal controls and mismanagement were behind the convoluted financing arrangements that led to $2 billion being seized by banks.
Management's 'special financing project' cited for $2bn seized by banks in 2022

A China Evergrande Group housing sales storefront in Guangzhou. (Photo by Yusuke Hinata)
GUANGZHOU -- An independent investigation into property giant China Evergrande Group found that weak internal controls and mismanagement were behind the convoluted financing arrangements that led to $2 billion being seized by banks.