Founder of Collapsed Chinese Property Giant Evergrande Sentenced to Life in Prison

Hui Ka Yan, founder of Chinese property developer Evergrande, has been sentenced to life in prison after the company’s dramatic collapse. The former billionaire was found responsible for serious financial misconduct, according to reports, marking one of the harshest penalties linked to China’s property crisis. Evergrande’s downfall left creditors, homebuyers and investors facing major losses and became a symbol of the sector’s debt problems. The sentence underscores Beijing’s efforts to hold corporate leaders accountable while containing risks for markets.