Ex-Evergrande boss Xu Jiayin pleads guilty to corruption; remorse voiced as the world’s most indebted developer collapses. Once led a property empire, now facing legal consequences.
Hui Ka Yan, founder of Evergrande, has pleaded guilty to charges including fundraising fraud and bribery. The court has announced he expressed remorse during his trial in Shenzhen. The case follows Evergrande's collapse with over $300 billion in liabilities, marking a significant development in China's ongoing property sector crisis.