China Sentences Evergrande Founder Hui to Life in Prison

China Evergrande Group’s founder Hui Ka Yan has been sentenced to life in prison and his former companies fined 15.82 billion yuan ($2.4 billion), cementing the downfall of a property...

By Bloomberg News · Bloomberg

China Evergrande Group’s founder Hui Ka Yan has been sentenced to life in prison and his former companies fined 15.82 billion yuan ($2.4 billion), cementing the downfall of a property tycoon who exemplified the country’s real estate boom and bust.