China: Perpetual Prison for Evergrande Defrauder · Global Voices
7 Articles
7 Articles
A Chinese court sentenced the founder of the real estate giant Evergrande, Xu Jiayin, to life imprisonment for a series of crimes including “large-scale financial fraud” and fined the group more than $2 billion.
From a child raised in poverty to one of the richest people in the world and, ultimately, a lifer, Xu Jiayin saw the Evergrande empire collapse and himself convicted of a series of financial crimes.
Xu Jiayin, who became China's richest man, was sentenced to life imprisonment by a Shenzhen court after being found guilty of fraud, bribery, and embezzlement. The 67-year-old businessman, also known as Hui Ka Yan, was also ordered to confiscate his personal assets and return the funds he allegedly obtained illegally. From poverty to a real estate empire: Xu Jiayin's story began in a rural area of Henan province, where he was born in 1958. After…
The executive went from building a billions of dollars real estate empire to receiving the final sentence after the collapse and fraud of his company The article From billionaire to life imprisonment: the fall of Xu Jiayin and Evergrande was originally published in Las2orillas.co: Stories, Voices and News from Colombia. Copyrights Las2orillas.co
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Xu Jiayin, 67, was the founder and former owner of the Chinese real estate giant Evergrande, who was the owner of the Montebello Castle before he was seized for sale under judicial supervision. On 20 August, in addition to being convicted, Mr. Jiayin was confiscated, and the court imposed a fine of more than $2 billion. Xu Jiayin (middle) at his trial, held in Shenzhen, Guangdong province, south of the country, on 20 August 2026. Source: Xinhua …
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