Chinese court sentences founder of troubled property developer Evergrande to life in prison

A court in Shenzhen sentenced Hui Ka Yan, founder of Evergrande, to life in prison for large-scale financial fraud and abusing his position. The ruling also fined the company a total of $2.3 billion, while several other senior Evergrande executives received prison terms up to 18 years on charges including illegal taking of public deposits and fraud.