Breaking | Founder of China’s Evergrande Group Hui Ka-yan pleads guilty in fraud trial



As part of a public trial held by the Shenzhen Intermediate People’s Court, China Evergrande Group founder and former chairman Hui Ka-yan admitted guilt and expressed remorse over a set of charges including embezzlement of corporate assets and corporate bribery, according to a statement issued by the court.

The trial was held on Monday and Tuesday, and the court will issue its judgement at a later date.

More to follow …

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