Evergrande Founder Sentenced to Life in Prison, Personal Property Confiscated
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Published The founder of Evergrande, the property giant at the centre of China's housing market slump, has been sentenced to life in prison and had all of his personal property confiscated.
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Washington Times BusinessHONG KONG — A Chinese court sentenced Chinese property tycoon Hui Ka Yan to life in prison for financial crimes linked to the collapse of his Evergrande real estate group, once the world’s most heavily indebted developer.
ZeroHedgeFive years after Chinese property development firm Evergrande Group collapsed under the weight of enormous debt, founder Xu Jiayin was sentenced to life in prison on Thursday.
New York Post BusinessIn 2024, China’s securities regulator fined Hui $6.6 million and barred him from the securities market for life, after finding Evergrande’s flagship unit had inflated earnings and committed securities fraud.
Financial TimesFounder of collapsed Chinese property giant given life sentence Evergrande chair Hui Ka Yan jailed following developer’s default almost five years ago
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A Hong Kong court ordered Evergrande liquidated in 2024, and the Hong Kong Stock Exchange delisted it last year, bringing an end to a tumultuous boom-to-bust saga.
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ZeroHedgeA Hong Kong court ordered Evergrande to be liquidated in 2024, and the Hong Kong Stock Exchange delisted it in 2025.
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In pictures released by the court, a grey-haired Hui, 67, stood flanked by two officers, wearing a long-sleeved, navy blue collared shirt, as the court read out his sentence.
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Washington Times BusinessA photo of Hui’s courtroom appearance released by the Shenzhen court on Thursday showed an aged Hui, who used to be a high-profile figure but had long been out of public view, wearing a navy blue shirt standing between two uniformed officers behind a sign that read “defendant” in Chinese.
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Independent claims that didn't surface elsewhere in our corpus. Treat as supplementary — not corroborated across outlets.
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01 ZeroHedge As the Epoch Times notes further, Xu has not been seen in public since 2023, but the Shenzhen Intermediate People’s Court released photographs that show him wearing a blue shirt and flanked by two officers as the sentence was read out.
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02 New York Post Business “The criminal acts of Evergrande Group, Hengda Real Estate, and Hui Ka Yan … involved particularly huge amounts and egregious circumstances, caused particularly significant economic losses and caused particularly serious social harm, and should be severely punished according to law,” the court said in a statement.
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03 Financial Times Founder who blamed $300mn fraud on head injury sentenced to prison Judge accepts injury contributed to Christine Hunsicker’s crime as he sentences her to five years in prison
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04 BBC Business Hui, also known as Xu Jiayin, rose from humble beginnings in rural China, where he was raised by his grandmother before venturing into property development and setting up Evergrande in 1996.
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05 Washington Times Business In a statement, the court said Hui, also known as Xu Jiayin, abused his position in orchestrating fraud and misappropriating company assets.
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