{"id":1933,"date":"2026-08-20T04:53:02","date_gmt":"2026-08-20T04:53:02","guid":{"rendered":"https:\/\/uscnews.org\/?p=1933"},"modified":"2026-08-20T04:53:02","modified_gmt":"2026-08-20T04:53:02","slug":"chinese-court-sentences-evergrande-founder-to-life-in-prison-for-fraud","status":"publish","type":"post","link":"https:\/\/uscnews.org\/?p=1933","title":{"rendered":"Chinese court sentences Evergrande founder to life in prison for fraud"},"content":{"rendered":"

Hui Ka Yan, chairman of China Evergrande Group, delivers a keynote speech at the summit, Nov. 12.<\/small><\/p>\n

2026-08-20T04:21:25Z<\/p>\n

BEIJING (AP) \u2014 The Shenzhen Intermediate People\u2019s Court sentenced Hui Ka Yan, the founder of China\u2019s Evergrande real estate group, to life in prison Thursday for large-scale fraud. <\/p>\n

It also fined Evergrande Group 8.82 billion yuan ($1.31 billion) and Evergrande Real Estate 7 billion yuan ($1.04 billion), according to a statement issued by the court.<\/p>\n

Hui Ka Yan, also known as Xu Jiayin, pleaded guilty<\/a><\/span> in April to a series of charges, including illegal absorption of public deposits, fraud and corporate bribery.<\/p>\n

Evergrande was the world\u2019s most heavily indebted real estate developer<\/a><\/span> with more than $300 billion in liabilities before it was ordered to liquidate. <\/p>\n

Its downfall, which came as Chinese government officials cracked down on excessive borrowing in 2020, tipped the entire Chinese real estate market into crisis.<\/p>\n

<\/p>\n

\n
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Hui Ka Yan, chairman of China Evergrande Group, delivers a keynote speech at the summit, Nov. 12. 2026-08-20T04:21:25Z BEIJING (AP) \u2014 The Shenzhen Intermediate People\u2019s Court sentenced Hui Ka Yan, the founder of China\u2019s Evergrande real estate group, to life in prison Thursday for large-scale fraud. It also fined Evergrande Group 8.82 billion yuan ($1.31… <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","neve_meta_reading_time":"","_themeisle_gutenberg_block_has_review":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1933","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/uscnews.org\/index.php?rest_route=\/wp\/v2\/posts\/1933","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uscnews.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uscnews.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uscnews.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/uscnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1933"}],"version-history":[{"count":0,"href":"https:\/\/uscnews.org\/index.php?rest_route=\/wp\/v2\/posts\/1933\/revisions"}],"wp:attachment":[{"href":"https:\/\/uscnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uscnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uscnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}