In 2021, Xu Jiayin's alleged misappropriation of 13.4 billion deposits from Evergrande Property shocked the entire business community. The whereabouts of this huge amount of money have become the focus of attention. Through the bank's pledge guarantee, Evergrande Group secretly embezzled the money, causing Evergrande Property to fall into a hole of 13.4 billion. How to fill this huge deficit has become a top priority for Evergrande Property. Xu Jiayin was accused of being the mastermind behind the incident, and he tried to shirk responsibility. However, over time, he was eventually captured. Now, Evergrande Property has decided to take Evergrande Group to court to recover 13.4 billion deposits for its own protection. This article will provide a comprehensive description and analysis of this incident.
The original text said: "Evergrande Property's 13.4 billion deposit is gone. Where did it go?It was swept away by Evergrande Group. ”
Description: As a small company, Evergrande Property originally had a difficult operation, and its annual profit was only hundreds of millions. However, on this day, they suddenly found that their 13.4 billion deposits were missing. It has become a mystery exactly where this money went.
Expanding: Evergrande Property used to be a company with a high market capitalization, however, it faced an unprecedented crisis in 2021. The deposit of 13.4 billion suddenly disappeared without a trace, causing the company to fall into a huge financial crisis. This is even worse for a company whose main business is property management. The disappearance of this huge amount of money is puzzling and raises questions about the credibility of Evergrande Group.
The original text said: "Evergrande Group quietly got the money away through the bank's pledge guarantee, but the result was not repaid." ”
Description: In order to embezzle the deposits of Evergrande Property, Evergrande Group adopted the method of pledge guarantee from the bank. They use this method to secretly transfer money in an attempt to cover up their misconduct. However, the result was unexpected, and they were unable to repay the loan on time.
Expansion: In order to transfer the deposits of Evergrande Property to its own account, Evergrande Group has tried every means to find a hidden financial path. They chose the bank's pledge as a guarantee, and by using the huge amount of money as collateral, they transferred it to another place in the form of loans. However, the trick didn't last long, and the problem was exposed when they couldn't repay the loan on time.
The original text said: "Now Evergrande Property has a hole of 13.4 billion, and Evergrande Property is originally a small company, and the property company can only earn hundreds of millions a year, how can it fill this hole?"”
Description: As a small company, Evergrande Property is facing a huge dilemma. They have a deficit of 13.4 billion in deposits, and the company makes only a few hundred million in a year. How to fill this huge deficit has become a tricky one.
Expansion: For Evergrande Property, the deposit deficit of 13.4 billion is undoubtedly a huge blow. What is even more worrying is that Evergrande Property itself is a relatively small company, with an annual operating profit of only hundreds of millions. Therefore, it is undoubtedly a huge challenge for them to fill this huge financial hole. However, in the face of this predicament, Evergrande Property is not helpless, and they are actively looking for solutions to save themselves.
The original text said: "Xu Jiayin's explanation to me was that I signed the documents, but I didn't read them carefully at the time, there were too many documents, and no one reminded me." ”
Description: After the incident, Xu Jiayin tried to exonerate himself, accusing him of signing the relevant documents, but did not read the contents of the documents carefully, and no one reminded him.
Expansion: After the incident, Xu Jiayin claimed that he had signed the documents related to the incident, but he admitted that he did not read the contents of the documents carefully at the time, nor was he reminded by others. However, this explanation has sparked public controversy over whether the act of carrying the blame is legal. On the one hand, Xu Jiayin, as the helmsman of Evergrande Group, should have a high degree of attention and prudence in financial operationsOn the other hand, he also asserts that he lacks sufficient scrutiny under the pressure of heavy work. With the intervention of lawyers and experts, whether Xu Jiayin's interpretation constitutes a sufficient legal basis and whether it can be exempted from liability from the legal and ethical level has become the focus of heated discussions.
The original text said: "There is no new news now, but what will happen to this Xu Jiayin in the future, everyone can just look at the recent founder of Hongling Venture Capital, Zhou Shiping." ”
Description: At present, there has been no new breakthrough in the news about Xu Jiayin. However, judging from the recent case of Zhou Shiping, the founder of Hongling Venture Capital, Xu Jiayin's future situation may be significantly affected.
Expansion: At present, there is no further disclosure of the latest news about Xu Jiayin. However, we can speculate on the future fate of Xu Jiayin from the recent case of Zhou Shiping, the founder of Hongling Venture Capital. Zhou Shiping, as an entrepreneur who was arrested in 2021, and his Hongling Venture Capital also caused an uproar due to a deficit of more than 20 billion. In the end, Zhou Shiping was sentenced to life imprisonment, which was shocking. The problems faced by Xu Jiayin are more serious in comparison, and they can be said to be heavier than Mount Tai. As for the legal and economic consequences that Xu Jiayin may face in the future, one cannot help but worry about his fate.
The original text said: "Now Evergrande Property is suing this Evergrande Group, in fact, it is also for self-protection, they just want to get the 134 billion back." ”
Description: Evergrande Property chose to take Evergrande Group to court, in fact, out of its own need for protection. They hope to be able to recover the $13.4 billion in deposits in order to fill the huge financial gap.
Expansion: Evergrande Property, as the injured party, decided to no longer tolerate the unreasonable behavior of Evergrande Group in order to protect its own rights and interests. They chose to file a lawsuit in court to be able to recover the 13.4 billion deposits that had been misappropriated. This move not only reflects Evergrande's firm determination to protect its rights, but also to fill the huge financial gap and ensure the normal operation of the company. For Evergrande Property, only by recovering this huge amount of money can the company get out of the financial crisis and reshape the company's development prospects.
The original text said: "Xu Jiayin's misappropriation of Evergrande property is also his own stone. ”
Description: Xu Jiayin's misappropriation of Evergrande property deposits can be described as self-inflicted and pushed himself to the forefront.
Expanding: Xu Jiayin, as the leader of Evergrande Group, his misappropriation can be described as self-reaping and bringing disastrous consequences to himself. If he hadn't embezzled this huge amount of money in the first place, Evergrande Property could still have become a company with a market value of tens of billions. Moreover, in 2021, Evergrande Group itself has reached an acquisition agreement with Hopson Development, which plans to acquire 50% of all shares of Evergrande Property with a capital of 20 billion. However, due to the disappearance of the 13.4 billion deposits, the agreement could not be completed, and Evergrande Group lost the opportunity to save itself. Xu Jiayin's misappropriation can be said to have brought disaster to himself, and now Evergrande Group's debt is as high as 23 trillion, it is extremely difficult to turn the situation around.
Xu Jiayin's alleged misappropriation of Evergrande property deposits has brought huge difficulties to Evergrande Group and Evergrande Property. Evergrande Property chose to take Evergrande Group to court, trying to recover the misappropriated 13.4 billion deposits to protect its own development. Xu Jiayin faces enormous legal and economic consequences, and his future fate is worrying. This incident is also a wake-up call to us to be honest in our business activities and avoid falling into misconduct that could lead to irreparable consequences for ourselves and others.