Since we're getting straight to the point, and even more so in August with heat and flies, we don't know who the owner of the real estate company Evergrande Group is, who is Chinese. And by this I mean that if the company is large and Chinese at the same time, it is obligatory to call it "the Chinese giant". Well, this gentleman, whose identity we don't know, "internationally known as Hui Ka-yan", says ARA has been sentenced to life imprisonment for crimes related to real estate fraud. In China, they don't mess around. "He was under house arrest since 2023 and in April he pleaded guilty to the charges against him".

The founder and former president of the Chinese real estate giant Evergrande, Xu Jiayin, was sentenced this Thursday to life in prison by a Shenzhen court for financial fraud. The sentence, issued in the first instance, also orders the confiscation of all his assets and the deprivation of political rights for life. The conviction culminates the downfall of one of China's most powerful businessmen. Xu became the richest man in the country in 2017, when Forbes estimated his fortune at 42.5 billion dollars.