Evergrande Founder Xu Jiayin Sentenced to Life Imprisonment

On August 20, 2026, the Shenzhen Intermediate People's Court sentenced Evergrande founder Xu Jiayin to life imprisonment for financial fraud, illegal deposit-taking, and securities fraud. Evergrande Group and Evergrande Real Estate were fined 8.82 billion yuan and 7 billion yuan, respectively. The court found that Xu orchestrated massive financial falsification and bribery to misappropriate funds.