A Chinese court sentenced Evergrande founder Hui Ka Yan to life in prison for fraud, with his personal property confiscated. The Shenzhen court also fined his former companies a total of 15.82 billion yuan ($2.35 billion). Hui pleaded guilty in April to charges including fraud and bribery, marking a key moment in the fallout from Evergrande's collapse.
Evergrande founder Hui Ka Yan sentenced to life in prison
Source: AP News