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Asia

China Evergrande founder Hui Ka-yan sentenced to life imprisonment

Business - South China Morning Post · 1h ago · 🇨🇳 China

China Evergrande founder Hui Ka-yan sentenced to life imprisonment

A court in Shenzhen has sentenced China Evergrande Group founder and former chairman Hui Ka-yan, also known as Xu Jiayin, to life imprisonment for “multiple combined crimes”, confiscating all Hui’s personal property. Meanwhile, Evergrande was fined 8.82 billion yuan (US$1.3 billion), while its onshore operating unit Hengda Real Estate was fined 7 billion yuan – one of the biggest corporate fines levied by a court for criminal charges in Chinese history. More to follow...

Read the full story at Business - South China Morning Post →

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