Hui Ka Yan, the disgraced founder of Evergrande, has been sentenced to life in prison — sealing the dramatic fall of China’s most indebted real estate giant. Once Asia’s second-richest man, Hui built a global empire on debt-fueled expansion before it imploded under Beijing’s crackdown. Alongside 56 others, including his sons, he faces asset confiscation and massive fines totaling over $2 billion. Authorities accuse him of financial fraud, hiding debts and inflating assets — crimes deemed “exceptionally serious” that caused catastrophic economic damage. Evergrande’s liquidation continues as creditors worldwide scramble to recover losses, while Hui’s personal fortune is now frozen by Shenzhen courts — the end of an era for China’s property boom.
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