Evergrande founder put under Chinese police control: report

The founder and chairman of embattled major property developer China Evergrande Group has been put under police control in the Asian country, Bloomberg reported Wednesday, citing people with knowledge of the matter.

Hui Ka Yan was taken away by police earlier this month and is being monitored at a designated location. It is unclear why he has been under so-called residential surveillance, a type of police action that falls short of formal detention or arrest, the news agency said.

In August, the company based in southern China’s Guangdong Province filed for bankruptcy in a New York court. As o...