China has sentenced Evergrande founder and former chairman Hui Ka Yan to life in prison for financial crimes linked to the property developer's operations. The Shenzhen Intermediate People's Court also ordered his assets to be confiscated.

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

A Shenzhen court also levies massive fines against the developer’s main units for systematic fraud

A Chinese court ordered all of Hui Ka Yan's personal property confiscated.