Founder of China's Evergrande jailed for life after pleading guilty to fraud
Hui Ka Yan, the 67-year-old founder of China's Evergrande property developer, has been sentenced to life in prison after pleading guilty to eight fraud charges. He has been stripped of all personal property and the company has faced substantial fines. Once valued as China's richest man with a net worth of $42.5 billion in 2017, Hui's downfall marks a dramatic fall from prominence in China's real estate sector.
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Founder of China’s Evergrande jailed for life after pleading guilty to fraud
Hui Ka Yan, the 67-year-old founder of China's Evergrande property developer, has been sentenced to life in prison after pleading guilty to eight fraud charges. He has been stripped of all personal property and the company has faced substantial fines. Once valued as China's richest man with a net worth of $42.5 billion in 2017, Hui's downfall marks a dramatic fall from prominence in China's real estate sector.
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