The founder of China Evergrande Group pleaded guilty to misuse of funds, fundraising fraud and illegally taking public deposits, a Shenzhen court said.

Evergrande was once China's biggest real estate firm, with a stock market valuation of more than $50bn.

L’imprenditore riconosce le accuse di frode e corruzione durante il processo in corso a Shenzhen

The founder of China Evergrande Group pleaded guilty to misuse of funds, fundraising fraud and illegally taking public deposits, a Shenzhen court said.

The founder and former chair of troubled property firm, Evergrande Group, pleaded guilty to a slew of charges in a court trial in Guangdong province.