Evergrande founder handed life sentence for vast fraud case
TL;DR
Hui Ka Yan, founder of Evergrande, was sentenced to life in prison after pleading guilty to eight charges including misuse of funds and fundraising fraud; Evergrande Group and its property arm were fined billions of yuan as part of a government crackdown on debt-fueled real estate, with more than 50 related defendants also jailed and the company saddled with massive liabilities from a $300 billion debt crisis.
- Founder of China’s Evergrande jailed for life after pleading guilty to fraud The Guardian
- China Sentences Evergrande Founder to Life in Prison The New York Times
- China sentences founder of world's most-indebted property developer to life in prison for fraud, bribery Fox Business
- Chinese Tycoon Who Symbolized Property Bust Is Sentenced to Life in Prison WSJ
- World in Brief: America’s government debt passes $40trn; Evergrande’s founder is sentenced The Economist
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