China’s once richest man sentenced to life in prison

The Shenzhen Intermediate People's Court convicted Hui, 67, and Evergrande of engaging in large-scale financial fraud in inflating the group’s assets and concealing its liabilities.

The Chinese tycoon pleaded guilty in April to eight charges, including misuse of funds, fundraising fraud, illegally taking public deposits, illegally extending loans, fraudulently issuing securities and bribery.