fredag 21. august 2026

Evergrande tycoon at the heart of China’s property crisis sentenced to life in prison

The founder of embattled property behemoth Evergrande and formerly one of China’s richest men was sentenced to life in prison on Thursday, according to state media, the latest chapter of ignominy for a one-time symbol of the nation’s economic boom.

Hui Ka Yan pled guilty in April to multiple charges related to his time as chairman of China’s largest real-estate developer, including fraud and misuse of funds. It completes a dramatic downfall for Hui – also known as Xu Jiayin – who emerged from humble origins during a turbulent political era, to climb to the highest levels of influence and wealth.