Episode Details

Xu Jiayin, former chairman of China's property developer Evergrande Group, was sentenced to life imprisonment on Thursday for a string of financial and corporate crimes, while the group and its property arm were fined a combined 15.82 billion yuan ($2.35 billion), according to the Shenzhen Intermediate People's Court.

据深圳市中级人民法院消息，中国房地产开发商恒大集团前董事长许家印因多项金融及企业犯罪，于周四被判处无期徒刑；恒大集团及其地产子公司合计被处以158.2亿元人民币（折合23.5亿美元）罚金。

The court sentenced Evergrande Group to fines totaling 8.82 billion yuan for multiple offenses and Evergrande Real Estate Group to a 7 billion yuan fine.

法院对恒大集团数罪并罚，判处罚金共计88.2亿元；对恒大地产集团判处罚金70亿元。

Xu was deprived of political rights for life and had all his personal property confiscated. The court also ordered the continued recovery of illegal gains, with any shortfall to be repaid.

许家印被剥夺政治权利终身，个人全部财产予以没收。法院同时判令继续追缴违法所得，不足部分予以退赔。

According to the court, Xu was the actual controller of Evergrande Group, with overall responsibility for its operations.

法院表示，许家印系恒大集团实际控制人，全面负责集团经营管理。

Between 2016 and 2021, Evergrande Group, Evergrande Real Estate and Xu engaged in sustained, largescale financial fraud, including inflating assets and concealing liabilities, the court said.

法院查明，2016至2021年间，恒大集团、恒大地产及许家印实施持续、大规模金融诈骗，包括虚增资产、隐瞒债务等行为。

The court also found that Evergrande Group and Xu used bribery to gain control over financial institutions and illegally obtained credit and insurance funds for use by the group. Their conduct constituted crimes including corporate bribery, illegal issuing of loans and illegal use of funds.

法院还查明，恒大集团及许家印通过行贿掌控金融机构，非法获取信贷、保险资金供集团使用，其行为构成单位行贿罪、违法发放贷款罪、挪用资金罪等多项罪名。

Xu also abused his position as chairman of Evergrande Real Estate by organizing financial fraud and misappropriating company assets in the form of dividend payments, the court