Evergrande Founder Sentenced to Life in Prison by Chinese Regime
Sentencing Xu Jiayin, a court in Shenzhen stated that the crimes of China Evergrande Group 'caused particularly serious social harm.'
China Evergrande Group founder Xu Jiayin, also known as Hui Ka Yan, has been sentenced to life in prison in Shenzhen on August 20. He pleaded guilty in April to charges including misuse of funds, fundraising fraud, and bribery. The court also imposed significant fines on Evergrande and its subsidiary.
- Xu Jiayin, founder of China Evergrande Group, sentenced to life in prison.
- Sentence handed down on August 20 in Shenzhen, China.
- Xu pleaded guilty in April to multiple financial crimes.
- Evergrande and its subsidiary Hengda real estate were also fined substantial amounts.
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