On Chinese social media platform Weibo, a compilation video showing Evergrande employees confronting desperate investors amid financial problems has gone viral.
The confrontation: According toInsider, the 10-minute-long video of the confrontation was posted to Weibo on September 29 by Xing Tai Shen Bian Shi (local news site). They did not provide any details about when or where they were taken.
One video shows a female investor brandishing a knife, and threatening suicide in front of Evergrande Wealth staff members and others inside a meeting room.
I do not want to earn interest on my investment. I want my money back. Here's what I have for you. She told staff that if Evergrande Wealth does not give me my money today I will kill myself. If I don't get this handled immediately, I will die right here in front of you. All of my retirement savings are in that investment. There is nothing I can do."
Another clip featured a group of people blocking a vehicle outside the company's building. The video also features a woman crying out and asking for an explanation.
She said, "I don't have a choice and I will do this." All my money has been taken."
According to Reuters, investors have protested outside Evergrande's doors since Sept. 13. Around 100 people had gathered at the building's entrance, prompting guards to create a human barricade in order to stop them getting inside.
The fall of an empire: China Evergrande Group has become one of the most indebted companies in the world after its liabilities rose to over $300 billion through years of borrowing. The financial crisis also affected Evergrande Wealth, the company's wealth management arm.
According to TRT World, the Evergrande crisis had an impact on the crypto market and global markets. According to TRT World, the prices of Bitcoins and Etherium dropped to their lowest level since August. Traditional Wall Street stocks such as those in S&P 500 or Nasdaq suffered their largest daily percentage drop since May.
Featured Image via Weibo
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