A Chinese court sentenced Evergrande Group founder Hui Ka Yan to life in prison on Thursday, concluding a high-profile case tied to the collapse of China’s largest property developer.
The court in Guangzhou convicted Hui on charges including illegal loan extensions, fraudulent securities issuances, and bribery, according to state media reports. In addition to the life sentence, the court imposed a fine of nearly 16 billion yuan ($2.38 billion) on Evergrande and ordered the seizure of Hui’s personal assets.
The ruling follows Evergrande’s 2021 default on multiple bond payments, which triggered a liquidation process completed by 2025 and led to the company’s delisting from the Hong Kong stock exchange. The property sector crisis has weighed on China’s broader economy, with home sales and prices remaining subdued and smaller developers facing persistent financial strain.
The case underscores regulatory efforts to address systemic risks in China’s real estate sector amid prolonged economic headwinds.
