Six executives of China’s beleaguered real estate giant Evergrande redeemed some of the company’s investment products in advance earlier this year.
The executives made early redemptions of 12 investment products, between May 1 and September 7, the property group said in a statement on Saturday.
The statement on the group’s website did not identify the executives or give details about the type of products.
“Regarding the early redemption of Evergrande wealth investment products by some managers, the group company views the matter seriously,” the group said.
Evergrande requested all funds redeemed by managers in advance be returned within a certain time frame.
The group would also impose severe penalties.
The firm recently admitted it was under “tremendous pressure” as it battled more than $300bn in liabilities, following years of borrowing to fund its rapid expansion.
The difficulties come less than a year after its $1.8bn Hong Kong stock exchange float.
The company said it had hired financial advisers to help explore “all feasible solutions” to avoid bankruptcy, while warning there was no guarantee that it will meet its financial obligations.