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Evergrande founder jailed as Hengda liquidation proceeds — Aug 20, 2026A Chinese court sentenced Evergrande founder Xu Jiayin (Hui Ka Yan) to life imprisonment and ordered substantial asset confiscation and multi-billion-yuan penalties for the group after charges including misuse of funds and fundraising fraud. The rulings target Evergrande Group and its real estate unit, highlighting a crackdown on debt-laden developers.