Founder of China's Evergrande Pleads Guilty to Fraud Charges
Hui Ka Yan, founder of the Chinese property developer Evergrande, has pleaded guilty to embezzlement and corporate bribery charges during a public hearing held on 13 and 14 April 2026 in Shenzhen.The Shenzhen Intermediate People's Court confirmed that the verdict will be announced at a later date.Hui expressed remorse during the hearing, which was reported by Chinese state media.Evergrande's collapse in 2021 triggered a significant slump in China's property market, affecting investors and domestic banks.At the time, the company had around 1,300 projects across 280 cities and was known as the world's most indebted property developer with debts of approximately... [Continue Reading]
360LiveNews | 14 Apr 2026 09:06 LONDON
