Evergrande founder Hui Ka Yan gets life sentence in China
A Chinese court has sentenced the founder of the collapsed property developer Evergrande to life in prison after a major accounting case.
A court in China has sentenced Hui Ka Yan, the founder of the collapsed property group Evergrande, to life in prison, according to BBC World. The ruling marks a major step in the legal fallout from one of the country’s biggest property failures.
Evergrande was once among China’s largest developers, but its debt crisis helped trigger wider strain across the property sector. Hui’s case has become one of the most closely watched in the aftermath of that collapse.
The sentencing adds to the pressure on a company whose troubles have reverberated through China’s economy and financial system. Further details of the court’s decision were not immediately available in the source material.
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