Bobby Yip/Reuters
- Beijing has accused Evergrande of inflating revenue by $78 billion in 2019 and 2020.
- Regulatory authorities have fined Evergrande's founder and banned him from the securities market for life.
- The crackdown could serve as a warning to other defaulting developers in China's property crisis.
It just seems to get worse and worse for fallen Chinese real-estate giant Evergrande.