US EditionChina Evergrande founder Hui Ka Yan pleads guilty to a set of charges including fraud and bribery
The court said Hui admitted fraud, embezzlement and bribery charges after Evergrande’s collapse left creditors facing billions in losses.
- On Tuesday, Evergrande founder Hui Ka-yan pleaded guilty to charges of fraud and bribery in the Shenzhen Intermediate People Court, concluding the trial.
- Chinese authorities detained Hui in 2023 for measures "due to suspicion of illegal crimes," as Evergrande defaulted in 2021 following government curbs on excessive borrowing.
- Prosecutors charged Hui and Evergrande with illegally absorbing public deposits, fundraising fraud, embezzlement, corporate bribery, and fraudulent issuance of securities.
- The Shenzhen Intermediate People Court did not immediately announce a verdict, stating it would issue judgment at a later date; Hui expressed remorse in court.
- Deputies to the National People Congress and fundraising participants' representatives attended the trial, marking a significant development in the collapse of China's once-leading developer.
77 Articles
77 Articles
Onetime Evergrande Tycoon Hui Faces Prison
By: Toh Han ShihUnfinished Evergrande unitsHui Ka Yan faces time in a Chinese prison, after pleading guilty to fraud, embezzlement and bribery in relation to his company China Evergrande Group, which has descended from being China’s biggest property developer to the world’s most indebted real estate firm. He is also the biggest example of Beijing’s refusal, as it has in past crises, to launch a massive, central-government-funded bailout, instead…
Taipei Times
The Epoch TimesChina’s Evergrande founder pleads guilty to fraud
Bringing Taiwan to the World and the World to Taiwan
During a trial that lasted two days, Evergrande founder Hui Ka Yan pleaded guilty to various financial malpractices and bribery. Also two…
The founder of the insolvent Chinese real estate company Evergrande has pleaded guilty to several economic offenses in court.
Hui Ka Yan, the founder of the highly indebted property company Evergrande, has pleaded guilty to several economic offenses.
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