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…
We haven't written up this one. SCMP Business has the full story — the link below goes straight to it.
Also reported by 2 other outlets
- Chinese court sentences Evergrande founder to life in prison for fraud winnipegfreepress.com
- China Evergrande founder Hui Ka Yan sentenced to life in prison asia.nikkei.com
