Evergrande founder Xu Jiayin sentenced to life in prison, all property confiscated

A Shenzhen court sentenced Evergrande founder Xu Jiayin to life in prison with all personal property confiscated after his guilty plea to embezzlement, fundraising fraud, bribery, and illegally taking public deposits. Once Asia's richest person, Xu built China's largest developer before its 2021 collapse. The sentence hits the statutory maximum for illegal fundraising under Chinese law.