Evergrande Founder Xu Jiayin Gets Life Sentence, All Assets Seized

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