Evergrande Founder Pleads Guilty to Fraud in Shenzhen
Evergrande founder Hui Ka Yan pleaded guilty to fraud and illegal deposit absorption in a Shenzhen court. The trial concluded on Tuesday after two days of hearings.
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Hui Ka Yan, the founder of CHINA EVERGRANDE GROUP, has pleaded guilty to charges including the illegal absorption of public deposits and fundraising fraud. A court in Shenzhen held the trial on Monday and Tuesday, where the case against both the group and its founder was heard, according to reports from state media outlet Xinhua.
