The China Securities Regulatory Commission (CSRC) said Friday that it had decided to fine property developer Evergrande Real Estate Group 4.175 billion yuan (US$587 million) for financial fraud and other misconduct.
 

Evergrande Real Estate Group inflated business revenues and profits in 2019 and 2020 during its issuance of corporate bonds, the CSRC said.
 

The commission also found that Evergrande released false information in its annual reports and failed to disclose required information.
 

Xu Jiayin, then chairman and actual controller of the property company, was fined 47 million yuan and will be prohibited from entering the securities market for life.
 

恒大地产被罚41.75亿元！许家印被顶格罚款4700万元

5月31日，中国证监会正式发布对恒大地产集团有限公司（以下简称“恒大地产”）以及许家印等人的《行政处罚决定书》（以下简称《决定书》）。
 

依据《中华人民共和国证券法》有关规定，证监会对恒大地产欺诈发行债券、信息披露违法违规等行为进行了立案调查、审理，并依法向当事人告知了作出行政处罚的事实、理由、依据以及当事人依法享有的权利。当事人恒大地产、钱程未提出陈述、申辩意见，也未申请听证；其他当事人均提出陈述、申辩及听证申请。应当事人的申请，证监会于4月16日举行听证会，听取了当事人及其代理人的陈述、申辩意见。证监会表示，“本案现已调查、审理终结”。
 

《决定书》详细列出了当事人存在的违法事实、当事人及其代理人在听证中以及事后提出的陈述申辩意见，并针对陈述申辩意见逐一进行复核和回应。最终，证监会根据当事人违法行为的事实、性质、情节与社会危害程度宣布行政处罚决定。
 

其中，责令恒大地产改正，予以警告，并处以41.75亿元的罚款；对许家印给予警告，并处以4700万元的罚款。鉴于许家印决策并组织实施财务造假，手段特别恶劣，情节特别严重，决定对其采取终身证券市场禁入措施。《决定书》表示，因无法与夏海钧取得联系，已启动公告送达程序，将对其依法另行处理。

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