Former Evergrande Chair Gets Life Cell

The Shenzhen Court in China sentenced Shui Jiyuan, the former chairman of Evergrande Group, to life imprisonment for crimes including illegal seizure of deposits, fund-raising fraud, issuing loans and securities unlawfully, and the illegal disclosure of sensitive information, in addition to bribery. Shui, who was the de facto controlling figure of the company, was responsible for its operations in real estate and finance sectors, and his actions caused significant harm to the economy and severely violated property rights. The court also decided to revoke his political rights for life, seize his assets, and impose a fine of 8.82 billion yuan ($1.3 billion).

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