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Chinese court sentences Evergrande founder to life in prison for fraud

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BEIJING (AP) — The Shenzhen Intermediate People’s Court sentenced Hui Ka Yan, the founder of China’s Evergrande real estate group, to life in prison Thursday for large-scale fraud.

Evergrande was the world’s most heavily indebted real estate developer with more than $300 billion in liabilities before it was ordered to liquidate.

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