The second son holds an important position as governor… judicial process
“Canadian national ex-wife escapes from China”
Following Xu Jain, the founder and chairman of Evergrande Group, the epicenter of China’s real estate crisis, his second son, who was deeply involved in the group’s management, was also reported to have been taken into custody by the authorities.
On the 30th, Meirjing Newspaper, citing sources, reported that Chairman Xu’s second son, Xu Tonghe, was recently taken into custody by the authorities.
Xu Tonghe, a graduate of Harvard University, is known to have served as chairman of the Pearl River Delta branch and also held important positions at Hengda Wealth Management (Evergrande Wealth), a subsidiary of Hengda Group.
Prior to this, Hengda Group announced in a public notice on the Hong Kong Stock Exchange on the 28th that Chairman Xu had been ‘forcibly taken’ by the authorities on suspicion of a crime. Coercive measures refer to de facto detention in which investigative authorities deprive or restrict the freedom of key suspects.
In addition to Chairman Xu and his father, former and current executives of Hengda Group and its affiliates have also been detained and are being investigated by the authorities.
Analysis suggests that this shows that the Chinese authorities have begun full-scale judicial action against Hengda Group, which is in default.
Chairman Xu’s eldest son, Xu Zhijian, is also known to have served as vice chairman at Hengda Real Estate, but there have been no reports that he has been arrested yet.
Chairman Xu’s ex-wife, Ding Yumei, is said to have fled Chinese territory.
Sources said that Mr. Ding left Hong Kong in late July and disappeared.
It is unclear where he is currently, but there are claims that he holds Canadian nationality.
It is known that even after divorcing Chairman Xu last year, Mr. Dang stayed in Hong Kong and was in charge of debt restructuring at Hengda Group.
Some claim that Chairman Xu and his wife went through a ‘fake divorce’ to protect their private property.
China has not signed an extradition treaty with Canada. However, Canada has a precedent of deporting suspects involved in crimes in China, such as financial fraudsters, to China.
Source: Donga
Mark Jones is a world traveler and journalist for News Rebeat. With a curious mind and a love of adventure, Mark brings a unique perspective to the latest global events and provides in-depth and thought-provoking coverage of the world at large.