Evergrande reprimands insiders for hitting the exit ahead of wealth product clients, forcing redeemers to return proceeds

//Evergrande reprimands insiders for hitting the exit ahead of wealth product clients, forcing redeemers to return proceeds

Evergrande reprimands insiders for hitting the exit ahead of wealth product clients, forcing redeemers to return proceeds

China Evergrande Group, under siege from creditors, investors and suppliers has taken action against half a dozen company insiders for front-running their wealth management customers, bowing to pressure from furious clients and local authorities across the country.Six managers of Evergrande Wealth Management who had redeemed 12 wealth management products between May 1 and September 7 ahead of their scheduled dates were ordered to return the proceeds, and were reprimanded, the parent company…

Article by [author-name] (c) Business - South China Morning Post - Read full story here.

By | 2021-10-09T12:15:19+00:00 October 9th, 2021|Business|Comments Off on Evergrande reprimands insiders for hitting the exit ahead of wealth product clients, forcing redeemers to return proceeds