China jails Evergrande founder for life, fines firm over $2bn
(Photo by CN-STR / AFP) / China OUT China on Thursday sentenced the founder of embattled property giant Evergrande to life in prison and fined the company and an affiliate more than US$2 billion after a high-profile default five years ago.
A Chinese court on August 20, 2026 fined embattled property giant Evergrande billions of yuan and sentenced its founder Xu Jiayin to life in prison.
It sentenced founder Xu Jiayin, known as Hui Ka Yan in Cantonese, to life for a list of crimes including “large-scale financial fraud”.
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