Embezzlements of $10B Disclosed in Three HNA-linked Firms as Group Faces Bankruptcy

HNA Group said in a statement on Friday that its creditors had filed a petition with the Hainan Province High People’s Court for the group’s bankruptcy and reorganization. (Source: HK01)

Three listed companies of HNA Group disclosed that a total of 61.5 billion yuan ($9.57 billion) had been embezzled by shareholders and other related parties, as the trou…