Three years ago, the whistleblower was now being dealt with.

Evergrande is about to delist in 20 days!

Because Evergrande has not completed its reorganization within the specified time, according to the Hong Kong Stock Exchange regulations, this real estate "giant thunder" will be delisted in late August 2025.

A few years ago, Evergrande exploded, and the huge debt of 2.4 trillion was placed on the surface, which shocked the Chinese people.

Those who have bought Evergrande real estate have ushered in unfinished buildings, and those who have bought Evergrande stocks have lost all their money, and countless Chinese people have been cheated into the darkness!

In the past few years, although Evergrande had more than 400 billion yuan of assets being disposed of, it was still a drop in the bucket for Evergrande's total debt of more than 2 trillion yuan.

Look back and think about it, if I had heard the prediction of Evergrande's whistleblower, Citron, a few years ago, would this "debt snowball" not have fallen so big?

It’s just that there is no if. Evergrande’s whistleblower has now passed more than 10 years ago, and the result is shocking. It has not only been "beat up" by many bigwigs, but also fined huge amounts of property.

This will start from June 2012. Citron released an analysis report on Evergrande, which is 57 pages. The report directly points out that Evergrande is making fake accounts, and the high debt it bears has exceeded its own scope of responsibility.

Citon's founder, Lefurt, boldly predicted to the world that Evergrande's explosion is an inevitable result, but it is just a matter of time.

Who is citron? Is what it says credible?

In fact, Citron is a short-selling company in the United States. Over the past 20 years, it has shorted more than 150 listed companies around the world and is one of the two famous short-selling institutions on Wall Street.

And this time, in the report of shorting Evergrande, Lefot was also confident.

He listed the five existing crimes of Evergrande and the seven major crises that it is about to face, which also made tens of millions of shareholders believe that Evergrande is about to end, and its market value evaporated by more than 20 billion on the same day.

In order to respond to the crisis, Xu Jiayin held an emergency meeting that day, and then joined hands with nine top investment banks in the industry to accuse Citron's report of lack of common sense and basic evidence. And they all sarcastically mocked Citron.

Although the stock plummeted, the report incident was not resolved for a day, and Evergrande kept hanging on its head.

In order to recover the losses, in July 2012, Evergrande executives took top lawyers to Hong Kong to "retrieve the situation" from Citron.

Time comes in 2014, and the Hong Kong Securities Regulatory Commission accepted a lawsuit against Citron and its founder Left.

At that time, Citron was fighting against Evergrande, and it was confirmed that Evergrande had already lost its internal deficits, and the problem of insolvency was bound to exist.

However, Citron's report is derived only from the common sense that "if something is abnormal, there will be a demon" and has no substantive evidence to support it.

In the end, Citron spent millions of lawyer fees, and after four years of pulling, she still lost the case. Leford was also considered to be the one who spread false information and shorted Evergrande.

For this, he not only had to bear a huge fine of US$4 million, but also ordered the Citron he founded to be banned from the Hong Kong market within five years.

At this point, this cross-border "whistleblowing operation" ended in failure. After this battle, in order to save his life, Citron announced to the public that it would only go long and no longer short in the future.

can be said to have a great sigh of relief for a number of Chinese companies.

Why do you say so?

Because before this, Citron has become a famous "Chinese stock killer".

His fame battle in China was to short our Southeast Alliance, which ended the company's development in just 4 months. It was also this battle that gave domestic and foreign investors a crisis of trust in Chinese companies.

In fact, earlier, Citron only developed in the United States, and was remembered by entrepreneurs for aggressive short selling, and as long as they take action, they will almost hit it.

After 2006, Citron began to target Chinese stocks. It is no exaggeration to say that over the past 20 years, he has shorted more than 20 Chinese stocks.

The Southeast Rongtong incident occurred in April 2011, when Citron questioned that there were problems with Southeast Rongtong's financial statements.

immediately began to collect "evidence" and released a short-selling report on Southeast Rongtong in one go.

On the day of its release, Southeast Rongtong's share price plummeted by nearly 13%, although Southeast Rongtong made clarifications.

But Citron questioned that their profit margins were fake, but they were hit by "seven inches".

In just one month, the company was responsible for the audit of the company and was unable to produce favorable financial statements. In August, Southeast Rongtong delisted.

This battle made Citron famous, and the short-selling report he released was followed by many people.

According to statistics, 16 Chinese companies shorted by him fell by more than 80%, and 7 companies have been forced to delist. Of course, Citron also has many "missing" times.

For example, when shorting New Oriental, he kicked the iron plate, not only did he not get any money, but also brought New Oriental's stock price to a higher level.

Citron's short selling also has malicious manipulation, taking it as an example, his short selling against Qihoo 360.

Short Qihoo 360 six times, which greatly impacted Qihoo 360. Although the shame was washed away afterwards, he could only bear the losses in more than four months of self-evidentiary.

Although it finally won back the trust of some investors, the experience of being treated maliciously is hard to describe.

According to Zhou Hongyi in an interview, the issues raised by Citron's short-selling report are not scrutinized, and he is just "selling short for the sake of short."

Just at this moment, after experiencing the incident of Evergrande, Citron finally withdrew from China's hunting. Citron, which withdraws from China, is restless and claims to only go long in the future, which has successfully attracted the attention of the US Securities and Exchange Commission and launched a lawsuit against Citron and LeFut on July 26. The reason is that Citron, which only goes long, has committed fraud and illegally made a profit of US$20 million.

This is a huge wealth that ordinary people cannot earn for three generations!

And Citron's founder Lefult only deliberately publishes false news and statements on its own website and social media.

The US Securities and Exchange Commission has discovered that he has issued personal suggestions more than once, and according to statistics, it has issued 26 public suggestions.

Every time the company involved in the proposal would be consistent with Follet's statement, and the stock price of listed companies he mentioned rose by an average of 12%.

In other words, Lefford uses his influence to sing more first, and then take the opportunity to reduce his holdings and cash out.

His conventional approach is to tell readers that a certain stock is worth owning for a long time and can be as high as $65.

And he sold a lot of stocks at $28, and also reached a compensation agreement with the hedge fund.

What is even more shocking is that he used the same trick of tricking and transferring bags to 23 companies.

Kate Zolade, a member of the US Securities and Exchange Commission, was extremely angry and claimed that he must give an explanation. He deceived his readers wantonly and must take responsibility for his illegal gains of the 20 million US dollars.

At the same time, the US Department of Justice also conducted a cross-examination of Citron and determined that Leford did have multiple frauds, with the profits earned above $16 million. The prosecutor said that he used his public image to guide everyone to bet with him, conceal his relationship with hedge funds, and would share profits with him after hedge funds cashed out.

Federal investigators once asked him if he had cooperated with hedge funds, and he firmly answered no.

If there is conclusive evidence for the above accusation, Lefford will face imprisonment for the rest of his life.

In 17 securities fraud cases, each of which was 20 years in prison, the maximum duration was 25 years. In addition, he had lie to investigators for five years, so he could not turn over the rest of his life.

But compared to Evergrande's fate, Citron was not too unlucky back then.

After all, the ones who took over the huge thunder of Evergrande were countless ordinary people and investors who lost all their money.

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