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Evergrande Founder Hui Ka Yan Sentenced to Life in Prison for Fraud

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Hui Ka Yan, the founder of Chinese real estate giant Evergrande, has been sentenced to life imprisonment for financial misconduct. The court also ordered the confiscation of his personal assets and levied fines against Evergrande itself. Hui pleaded guilty to charges including fraud and misuse of funds. Evergrande had amassed massive debts before defaulting, becoming a central symbol of China's wider property sector crisis.

Read the full story at Times of India

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Evergrande Founder Hui Ka Yan Sentenced to Life in Prison for Fraud · ShortSingh