China Evergrande founder Hui Ka Yan sentenced to life in prison

China debt crunchRuling and confiscation of assets cement downfall of former billionaireChina Evergrande Group's then-Chairman Hui Ka Yan attends a news conference on the property developer's annual results in Hong Kong in March 2017. © ReutersLORRETTA CHENAugust 20, 2026 14:27 JSTHONG KONG -- The founder of collapsed property developer China Evergrande was sentenced to life in prison Thursday morning, cementing the dramatic downfall of a man who was once China's richest person.Read NextLatest on China debt crunch