Evergrande founder sentenced to life in prison

Hui Ka Yan, once China's richest property tycoon, was sentenced to life imprisonment by a Shenzhen court for fraud, bribery, and illegal fundraising.

The court also ordered the confiscation of his personal property and fined Evergrande and its affiliate over $2 billion.

The verdict marks the culmination of a five-year saga that began with the developer's default and exposed systemic risks in China's real estate sector.

Analysts say the ruling signals Beijing's determination to hold corporate leaders accountable for financial misconduct.