Chinese real estate giant Evergrande Group, which is undergoing restructuring, announced on the 22nd that Natsumi Feng, CEO, and others have resigned. The survey results revealed that he was involved in the improper diversion of funds from a real estate management company under the group.


China Hengda is investigating the fact that the bank has seized 13.4 billion yuan of deposits pledged by its affiliated real estate management company, Evergrande Property Group.


The investigation revealed that the funds were returned to the group through a third party and used as working capital and that Mr. Xia and Chief Financial Officer Ban Daiei were involved in improper diversion.