Life sentence for founder of China's Evergrande, world's most indebted developer
The billionaire who founded China's Evergrande Group, the real estate developer at the heart of the nation's property crisis, has received a life prison sentence. Hui Ka Yan pleaded guilty in April to several charges, which included fundraising fraud and unlawfully accepting public deposits. Although it was previously the most valuable developer globally, Evergrande has become the world's most debt-ridden, carrying roughly $300 billion in liabilities.
by shortkt.com✓