BREAKING: Chinese tycoon behind Evergrande's collapse sentenced to LIFE in prison.



Hui Ka Yan was convicted of eight financial crimes, with all his property confiscated and his companies fined $2.3B.

Once China’s top-selling developer, Evergrande became the world’s most indebted before defaulting in 2021.

Its collapse left an estimated 1.4M homes unfinished, which helped trigger China’s property crisis.
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IronTrader
· 3h ago
On the surface, this looks like the conviction of Xu Jiayin alone, but in reality, the entire highly leveraged real estate model was reckoned with overnight. Behind the 14k unfinished homes are the hard-earned savings invested by countless families. Hopefully, the subsequent disposal of assets will prioritize compensating homebuyers, rather than focusing solely on the size of the fines.
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RiskManager_BTC
· 4h ago
Sentenced to life imprisonment, but what about the money paid by the owners of those unfinished homes?
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