A Chinese court sentenced Hui Ka Yan, founder and former chair of Evergrande, to life in prison on August 20, 2026, in a case tied to the property developer's catastrophic collapse.
Evergrande fell carrying more than $300 billion in liabilities, according to NPR, a default that the Financial Times said occurred nearly five years before the sentencing. BBC News reported that the collapse shook China's property sector.
NPR described the sentencing as a milestone in the Evergrande saga.