ABC News – Australia
·australia
·5 hours ago
Founder of China property giant Evergrande pleads guilty to fraud
Hui Ka Yan, the founder of China’s Evergrande Group, pleaded guilty to fraud charges during a Shenzhen court trial this week. The 67-year-old expressed remorse over his actions, which included fundraising fraud and illegally taking public deposits. Evergrande's previous standing as a property giant has dramatically declined, leading to an ongoing liquidation process with over $300 billion in liabilities.
Summary by Glance · ABC News – Australia
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