The founder of embattled Chinese property behemoth Evergrande was sentenced to life in prison on Thursday, according to state media, the latest chapter of ignominy for a former symbol of the nation’s economic boom.

Almost five years after Evergrande triggered a property crisis in China, its disgraced founder Hui Ka Yan has been sentenced to life in prison.

Hui was fined 47 million yuan ($6.5 million) in 2024 and banned from China's securities markets for life by the China Securities Regulatory Commission over inflating company…