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The Guardian Business · Aug 20, 2026 12:03 PM EDT Not market news

Founder of China’s Evergrande jailed for life after pleading guilty to fraud

Hui Ka Yan also forfeits all his personal property and the company he set up is given hefty finesBusiness live – latest updatesThe founder of Evergrande, one of China’s largest property developers, has been sentenced to life in prison and had all of his personal property confiscated.Hui Ka Yan, 67 and once named by Forbes as China’s richest man, with a net worth of $42.5bn (£31.2bn) in 2017, pleaded guilty in April …

Founder of China’s Evergrande jailed for life after pleading guilty to fraud
Image The Guardian Business

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2 reports over 7h 21m
  1. BBC Business Founder of China's Evergrande sentenced to life in prison
  2. The Guardian Business You're reading this Founder of China's Evergrande jailed for life after pleading guilty to fraud

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