<\/p>\n
China Evergrande Group\u2019s founder Hui Ka Yan has been sentenced to life in prison and his former companies fined 15.82 billion yuan ($2.4 billion), cementing the downfall of a property tycoon who exemplified the country\u2019s real estate boom and bust.<\/p>\n
The fallen real estate magnate will also have his assets confiscated, according to the official Xinhua News Agency on Thursday. In April, he had pleaded guilty in a Chinese court to charges including fundraising fraud and bribery.<\/p>\n
Hong Kong-listed Evergrande was fined 8.82 billion yuan, while its onshore unit Hengda Real Estate was fined 7 billion yuan. The two corporate entities had inflated assets and concealed liabilities \u201cin a sustained, large scale manner,\u201d the report said.<\/p>\n
ADVERTISEMENT<\/p>\n
CONTINUE READING BELOW<\/p>\n
The court sentenced another 56 people with charges related to Evergrande, including Hui\u2019s sons Xu Zhijian and Xu Tenghe. The sentences ranged from 22 months to 18 years, according to Xinhua.<\/p>\n
\u201cThe amount involved in the crime is exceptionally large, the circumstances are particularly heinous, exceptionally heavy economic losses have been caused, and the harm to society is extremely grave,\u201d the report said.<\/p>\n
Once Asia\u2019s second-richest man, Hui joins a long list of billionaires to fall under the Chinese government\u2019s dragnet. His sprawling empire that spanned real estate to electric vehicles was forced into liquidation in 2024, as China\u2019s property downturn persists.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#China #sentences #Evergrande #founder #Hui #life #prison<\/p>\n","protected":false},"excerpt":{"rendered":"
China Evergrande Group\u2019s founder Hui Ka Yan has been sentenced to life in prison and…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[173,19693,938,19764,411,8512,19775],"_links":{"self":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts\/14089"}],"collection":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14089"}],"version-history":[{"count":0,"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts\/14089\/revisions"}],"wp:attachment":[{"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14089"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14089"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14089"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}