On Monday, the Wall Street Journal reported that China Evergrande Group’s embattled Chairman Hui Ka Yan was under investigation for allegedly transferring assets offshore as the property developer is attempting to finish uncompleted projects.

The property developer has been attempting to secure the approval of creditors to restructure its offshore debt, however the process became more complex last week after it was announced the company would not be able to issue new debt, because it there was an investigation ongoing into its main China unit.

On Friday, the news broke that the Chairman of the company was under police surveillance, due to being suspected of having committed unspecified criminal acts.

Last week Reuters reported that a number of the company’s offshore creditors were preparing to join a court petition seeking the liquidation of the developer unless it could produce a new debt restructuring plan by the end of October.

Evergrande has not responded to requests for comment on the matter.

Evergrande has become emblematic of a growing debt crisis in the nation’s property sector, due to its more than $300 million in liabilities. The property sector in China accounts for about one quarter of the nation’s economy.

On Thursday, trading in the shares of China Evergrande and two units of the company were suspended following the media reporting that Hui was being held by police at a designated location where he was to be monitored under surveillance.