Source: International Business Times
Evergrande founder sentenced to life in prison. Reuters Once the richest man in China, Hui Ka Yan will now spend the rest of his life in prison just five years after his property development company, Evergrande Group, collapsed and sent shockwaves through the Chinese economy. Hui was sentenced on a variety of charges, including misuse of funds, fundraising fraud, illegally taking public deposits, illegally extending loans, fraudulently issuing securities, and bribery.
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