Hui Ka Yan

China Evergrande’s billionaire boss pleads guilty to fraud

The guilty plea of Evergrande's founder highlights ongoing issues in China's property sector and its broader economic implications.

• •Hui Ka Yan pleaded guilty to fundraising fraud and misuse of funds
• •Evergrande is the world's most indebted property developer
• •The company has defaulted on over $300 billion in liabilities since 2021