Founder of collapsed Chinese property giant Evergrande sentenced to life in prison - BBC News

Hui's sentencing marks a key moment in the fallout from Evergrande's collapse, which shook China's property sector.

Image source, Shenzhen Intermediate People’s Court/WeChatImage caption, Hui Ka Yan, centre, the founder of China's Evergrande Group

The founder of Evergrande, the property giant at the centre of China's housing market slump, has been sentenced to life in prison and had all of his personal property confiscated.

Hui Ka Yan pleaded guilty in April to several charges, including embezzlement of assets and corporate bribery.

Shenzhen Intermediate People's Court also fined his former companies a total of 15.82bn yuan (£1.73bn; $2.35bn) over multiple crimes, including falsifying records and concealing debt.

Hui's sentencing marks a key moment in the fallout from Evergrande's collapse, which shook China's property sector and hit investors and domestic banks hard.