China Evergrande Group’s founder has pleaded guilty to a number of charges including fundraising fraud and bribery in a Chinese court, cementing the downfall of a property tycoon who was emblematic of the country’s real estate boom and bust.
Hui Ka Yan, who rose from humble origins to turn Evergrande into a real estate giant that was at one time the world’s most indebted developer, had been accused of a litany of crimes including illegally absorbing public deposits and fundraising fraud, according to the official Xinhua News Agency on Tuesday.
Hui Ka Yan in 2019.
Photographer: Paul Yeung/Bloomberg
Hui’s swift two-day trial came about three years after ...
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