Fondatorul gigantului imobiliar chinezesc Evergrande, condamnat la închisoare pe viaţă pentru fraudă

The founder of Evergrande, Xu Jiayin, has been sentenced to life imprisonment for large-scale financial fraud, impacting China's real estate crisis. Evergrande and its real estate subsidiary were fined approximately 2 billion euros. The company faced bankruptcy in 2021 due to stricter lending conditions, affecting economic growth. The court revealed that between 2016 and 2021, Xu and Evergrande violated national laws through ongoing financial fraud and asset inflation. Five other executives received prison sentences ranging from 6 to 18 years.