Noel Celis / AFP via Getty ImagesEvergrande sold Chinese retail investors around $6 billion in risky wealth management products, the FT reports.
At a meeting with angry investors demanding their money back, executives acknowledged the WMPs were likely too risky for many retail clients.
might be arrested for financial fraud if investors don't get paid off," an Evergrande executive told the FT.See more stories on Insider's business page.
Evergrande sold Chinese retail investors around $6 billion in risky wealth management products (WMPs), held by a base of around 80,000 investors, according to a new report by the Financial Times.
But with the deeply indebted property company unable to meet its obligations, the Chinese government's course of action is still unclear.
Noel Celis, Evergrande, Yang Huiying, Evergrande's
Getty, Financial Times
Shenzhen, China, AFP, WMPs, Beijing