Founder of China’s Evergrande jailed for life after pleading guilty to fraud
Hui Ka Yan also forfeits all his personal property and the company he set up is given hefty finesBusiness live – latest updatesThe founder of Evergr...
Last updated: 2026-08-20 13:43:07 ET
Hui Ka Yan also forfeits all his personal property and the company he set up is given hefty finesBusiness live – latest updatesThe founder of Evergr...
Decades ago, the property was used as the headquarters of an LSD operation run by former Harvard professor Timothy Leary.
Chinese property developer Hui Ka Yan has been sentenced to life in prison. The decision marks a milestone in Evergrande's saga after it collapsed with more than $300 billion in liabilities.
Hui Ka Yan’s punishment caps the downfall of a property empire whose collapse set off a prolonged crisis in the Chinese economy.
Hui's sentencing marks a pivotal moment in the fallout from Evergrande's collapse, which shook China's property sector.
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“My CPA hasn’t gotten back to me.”
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