Tag: Frauds and Swindling

China Evergrande Founder Accused of Exaggerating Revenue by $78 Billion

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China Evergrande Group exaggerated its revenue by more than $78 billion and committed securities fraud over two years before its spectacular collapse in 2021, a top Chinese regulator said. The China Securities Regulatory Commission accused Hui Ka Yan, the founder of Evergrande, of “making decisions and organizing fraud,” the company reported in a filing to the Shanghai and Shenzhen stock exchanges on Monday night. Mr. Hui was fined $6.5 million and banned from China’s financial markets for life. Xia Haijun, a former chief executive, was fined $2 million and also…

Chinese Magnate Admits to Making Straw Donations to N.Y. Politicians

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A Chinese business titan pleaded guilty on Monday to federal charges that he made more than $10,000 in straw donor contributions to political candidates — including, a person familiar with the case said, to a New York congressman and Mayor Eric Adams. Hui Qin, 56, of Old Westbury, N.Y., who was once listed on Forbes magazine’s list of billionaires, ran a now-defunct entertainment business called SMI Culture. But he has been in federal custody since the fall, when he was arrested at an apartment he kept at the Plaza Hotel…

Biden Issues Executive Order to Restrict Personal Data Sales to China and Russia

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President Biden issued an executive order Wednesday seeking to restrict the sale of sensitive American data to China, Russia and four more countries, a first-of-its-kind attempt to keep personally identifying information from being obtained for blackmail, scams or other harm. The president asked the Justice Department to write rules restricting the sale of information about Americans’ locations, health and genetics to China, Russia, Iran, North Korea, Cuba and Venezuela, as well as any entities linked to those countries. The restrictions would also cover financial information, biometric data and other types…

U.S. Strikes in Yemen, and Taiwan’s High-Stakes Election

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