Hui Ka Yan, once Asia's richest man, pleaded guilty in April to eight charges, including misuse of funds, fundraising fraud, illegally taking public deposits, illegally extending loans, fraudulently issuing securities and bribery.

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

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