Chinese property developer Hui Ka Yan, founder of the Evergrande real estate group, has been sentenced to life in prison and the companies fined a total of US$2.3 billion, a court in the southern city of Shenzhen said Thursday.

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…

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.