Evergrande founder Hui Ka Yan sentenced to life in prison in China
The founder of China Evergrande Group, Hui Ka Yan, has been sentenced to life in prison by a court in Shenzhen. The court also ordered the confiscation of all his personal property. In the same ruling, Evergrande Group was fined 8.82 billion yuan, while its real estate unit was fined 7 billion yuan.Hui, also known as Xu Jiayin, pleaded guilty in April to several charges, including embezzlement of assets and corporate bribery. According to the court and state media, the case centred on conduct linked to the company's collapse and the wider fallout from its financial crisis. The sentencing marks... [Continue Reading]
360LiveNews | 20 Aug 2026 06:32 LONDON
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