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 …

  • Related Posts

    Chinese firms target Brazil as it becomes a magnet for expansion

    Chinese companies – from sectors as diverse as bubble tea, budget retail and cars – are expanding their presence in Brazil, with analysts saying the robust trade ties between China…

    Continue reading
    Stocks regain most of their US-Iran war losses amid hopes diplomacy will prevail

    Investors are betting on a diplomatic solution to end the US-Israel war on Iran, even after peace talks fell apart over the weekend. Initial fears about an escalation of the…

    Continue reading

    Leave a Reply

    Your email address will not be published. Required fields are marked *