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China Jails Evergrande Founder for Life, Fines Firm More Than $2bn
A Chinese court has sentenced Evergrande founder Hui Ka Yan, also known as Xu Jiayin, to life imprisonment for financial crimes including fraud, embezzlement and bribery. Evergrande and its property subsidiary were fined a combined 15.82 billion yuan, about $2.4 billion, while Hui’s personal assets were ordered confiscated.