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A Shenzhen court sentences Evergrande founder Hui Ka Yan to life imprisonment, marking the final collapse of one of China’s most powerful property tycoons. The court convicts him over financial fraud, illegal fundraising, embezzlement, bribery, and deception that inflated revenues and left millions of homebuyers exposed to unfinished projects. Evergrande and Hengda also face heavy corporate fines, while dozens of executives and family members receive prison terms. The ruling closes China’s criminal case against Hui, but offshore liquidators continue pursuing assets and legal claims linked to Evergrande’s global fallout.
Thursday, 20 August, 2026