China Evergrande founder Hui Ka Yan sentenced to life in prison over $300 billion debt collapse

China Evergrande Group founder Xu Jiayin, known in Hong Kong as Hui Ka Yan, has been sentenced to life imprisonment by a court in Shenzhen. His company's collapse under debts exceeding $300 billion became a symbol of China's real estate crisis. The verdict concludes the criminal case against the head of one of the world's largest property developers.