Topic: China real estate slump

The man who built China's biggest property empire will die in prison, stripped of every asset he owns. Hui Ka Yan, founder of collapsed real estate giant Evergrande, was sentenced to life imprisonment by the Shenzhen Intermediate People's Court, which also confiscated all of his personal property. His former companies were fined 15.82 billion yuan ($2.35 billion), and his two sons are heading to jail alongside him. It is the final fall of a tycoon once estimated to be the richest person in Asia.