Chinese Tycoon Who Symbolized Property Bust Is Sentenced to Life in Prison - WSJ

Chinese Tycoon Who Symbolized Property Bust Is Sentenced to Life in Prison  WSJ

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.

Chinese property developer Hui Ka Yan, founder of the Evergrande real estate group, has been sentenced to life in prison and the companies were fined a total of more than US$2 billion, a court in the southern city of Shenzhen said Thursday.

Chinese property developer Hui Ka Yan, founder of the Evergrande real estate group, has been sentenced to life in prison and the companies fined a total of US$2.3 billion, a court in the southern city of Shenzhen said Thursday.

Chinese court sentences founder of troubled property developer Evergrande to life in prison  AP News

Hui Ka Yan, who had faced eight charges including misuse of funds and illegally taking public deposits, pleaded guilty in April, following China Evergrande's collapse five years ago after a quarter of a century in operation.

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.

A Chinese court has sentenced Hui Ka Yan, founder of property developer Evergrande, to life in prison

Hui Ka Yan/Evergrande: Tycoon at the heart of China’s property crisis jailed for life  CNN

Hui's sentencing marks a key moment in the fallout from Evergrande's collapse, which shook China's property sector.

Investigators tracked Anthony Barrera using geolocation data as he transported drugs from southern California, catching him during a cigarette break at an Interstate 5 rest stop.