Points clés
- Hui Ka Yan was sentenced to life imprisonment
- The Evergrande Group was fined 8.82 billion yuan
- Evergrande went bankrupt
En chiffres
The Shenzhen Intermediate People's Court in China has sentenced Hui Ka Yan, the founder of the Evergrande real estate group, to life imprisonment for large-scale fraud. The court also imposed a fine of 8.82 billion yuan (approximately 2.2 billion NZD) on the Evergrande Group and 7 billion yuan (approximately 1.7 billion NZD) on Evergrande Real Estate. Hui Ka Yan pleaded guilty in April to a range of crimes including illegal public fund absorption, fraud, and corporate bribery. Evergrande was the world's most indebted real estate developer with liabilities exceeding 300 billion dollars (approximately 504 billion NZD) before it was forced into bankruptcy after Chinese government officials took measures against excessive borrowing. The bankruptcy of Evergrande has led to a crisis in China's entire real estate market.
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Questions fréquentes
- What crime was Hui Ka Yan convicted of?
- Large-scale fraud
- What penalty was imposed on the Evergrande Group?
- A fine of 8.82 billion yuan
- How did Evergrande's bankruptcy occur?
- After Chinese government officials took measures against excessive borrowing
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