china sentences property giant evergrande's founder to life
Beijing, Aug. 21 -- China sentenced the founder of embattled property giant Evergrande, Hui Ka Yan, to life in prison and fined the group more than $2 billion on Thursday for offences including fraud, five years after a high-profile default. The Shenzhen Intermediate People's Court's decision marks a milestone in Evergrande's saga after it defaulted on more than $300 billion in liabilities when Chinese authorities cracked down on excessive borrowing in the real estate industry in 2020.P2...
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