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Summary China Evergrande founder Hui Ka Yan was sentenced to life in prison and had all personal property confiscated after being convicted of misuse of funds, fundraising fraud and illegal deposit-taking.
HONG KONG (Reuters) - A Chinese court on Thursday sentenced the founder of China Evergrande Group, the world's most-indebted property developer, to life imprisonment and ordered all his personal property confiscated, state media CCTV reported.
Founder Hui Ka Yan faced eight charges including misuse of funds, fundraising fraud and illegally taking public deposits.
