China Evergrande Founder Sentenced to Life in Prison for 'Heinous Crime' The sentencing of Hui Ka Yan, founder of China's largest developer by sales, marks the end of an era of corporate excess in China's real estate market.
For years, Evergrande was hailed as a symbol of Chinese economic prowess, but behind the scenes, a story of deceit, corruption, and catastrophic collapse unfolded.
Born into poverty in Henan province, Hui leveraged China's economic reforms to build his empire. However, he also took on enormous debt, becoming the world's most indebted developer.