The story of Xu Jiayin and Fan Bingbing...

Source: Empire of Tomorrow

Xu Jiayin was taken compulsory measures in accordance with the law, and the end of the former richest man in China ended up like this, which was entirely his own fault.

Xu Jiayin's problem has about five aspects:

First, personalize company assets.

Second, corporatization of personal debt.

Third, the socialization of corporate risk,

Fourth, register the company abroad and file for bankruptcy protection in the United States.

Fifth, leaving debts and problems to the country, he and his wife cashed out and transferred huge sums of money abroad.

Xu Jiayin's usual life is extravagant and lascivious, and he eats, drinks and has fun in private. In addition to many mansions in China for him to enjoy, there are also houses in several countries abroad. There is a private photo of Xu Jiayin singing with beautiful women that has been exposed, allowing everyone to see his unknown side, he is not so serious, and has had scandals with many actresses.

Rich people and female celebrities have always seemed to be a topic.

For example, Liu Luanxiong and Kwan Zhilin, Li Jiaxin, Xu Jinheng and Liu Jialing, Li Jiaxin, Li Zhaohui and Che Xiao and so on.

Boss Xu is no exception.

Especially after Evergrande entered the film and television industry in 2010, many big stars and small stars are even more flocking to it.

For example, Fan Bingbing.

For a long time, when people talked about the entertainment industry after tea and dinner, it was often Fan who did not leave Xu and Xu did not leave Fan, so that there were a lot of gossip.

As for whether it is true or false, we do not investigate and guess, after all, the parties concerned have called the police to refute rumors.

We don't care if it's true or not, because what we're interested in is a normal "business partnership" between them.

On the one hand, many of the works starred by Fan Bingbing have the shadow of Evergrande Capital.

For example, "The Legend of Wu Meiniang", such as "The Woman of the Dynasty, Yang Guifei".

For example, the Sino-French co-production "The Woman in the Frame", and the Hollywood blockbuster "Sun and Moon Mermaid".

At the same time, Evergrande also invested in Fan Bingbing's studio, which is a rare phenomenon.

The reason why Fan Bingbing attracted Boss Xu naturally came from the huge energy emanating from her.

In those years, when Fan Ye had not committed crimes, although there were not many works, he repeatedly frequented various Vanity Fairs and had great appeal.

Boss Xu caught her, it was like grabbing a cash cow, which was more profitable than building a building.

For a while, Fan Bingbing seemed to be the person who stood up for Boss Xu.

In various activities of Evergrande, Fan Bingbing's figure can be seen frequently.

With her star effect, she has earned huge economic benefits for Evergrande.

Win-win.

In any case, there is an inextricable connection between the two.

So much so that in 2018, when Fan Bingbing was fined 880 million, there were still people discussing how the money came out.

Xu Jiayin's arrest may be related to the 664.3 billion yuan that "disappeared"

According to the 21st Century Business Herald, the issues involved in Xu Jiayin are likely to be related to multiple crimes, which are very complex and may take a considerable amount of time to clarify.

It is worth mentioning that on the evening of September 16, 2023, according to the "Shenzhen Nanshan Public Security" WeChat public account news: Recently, the public security organs took criminal compulsory measures against Du and other suspected criminal personnel of Evergrande Financial Wealth Management (Shenzhen) Co., Ltd. in accordance with the law.

Xu Jiayin's compulsory measures are not unrelated to the 664.3 billion yuan that "disappeared" in Evergrande's financial report.

According to the 21st Century Business Herald, on July 17, 2023, China Evergrande (03333.HK) issued a results announcement, in which it listed that due to its own "accounting treatment changes", the previous year's revenue was reduced by as much as 664.3 billion yuan, which shocked the domestic and foreign markets.

At that time, some experts pointed out in an interview that the disclosure was very likely to trigger market shocks and regulatory accountability, resulting in huge claims by creditors, and in extreme cases, it may even be filed for bankruptcy liquidation. Therefore, it is not difficult to accelerate the development of audit work and eliminate disclosure resistance at all levels, and it must also bring together the joint supervision, promotion and efforts of risk resolution committees, audit institutions, regulators and market public opinion.

Yan Yuejin, research director of the E-House Research Institute, pointed out that such an announcement issued by Evergrande this time confirms the fact that Evergrande's debt problem is not a simple financial and economic dispute, but involves a large financial default and illegal operation. From this perspective alone, the anti-corruption work of real estate enterprises began with the incident of Evergrande's accountability, and other real estate enterprises have no possibility of luck.