By Clare Jim
THE founder of China Evergrande Group, the world’s most indebted property developer, pleaded guilty to eight charges including misuse of funds, fundraising fraud and illegally taking public deposits, a court in China’s southern city of Shenzhen said.
While the indictment of the billionaire founder of what was once China’s No.1 property developer would mark an end to his rags to riches story, it is unlikely to bring much solace to Evergrande’s domestic and foreign creditors.
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