The founder of the debt-ridden real estate developer China Evergrande pleaded guilty to a series of charges, including illegal absorption of public deposits, fraud and corporate bribery, according to a mainland Chinese court statement Tuesday.
Hui Ka Yan, also known as Xu Jiayin, was detained in China in September 2023 on suspicion of committing crimes. Shenzhen Intermediate People’s Court said in a statement on WeChat that Hui expressed remorse in court during a trial between Monday and Tuesday. The court will deliver a judgment at a later date.
