A Chinese court on Thursday sentenced #XuJiayin#, former boss of #Evergrande# Group, to life in prison after convicting him of multiple crimes. The Shenzhen Intermediate People's Court in Guangdong Province found Evergrande Group and Xu guilty of illegally absorbing public deposits, fundraising fraud, illegally issuing loans, fraudulent issuance of securities, unlawful disclosure of important information, and corporate bribery. The court also convicted Xu of illegally using funds and embezzlement, and Evergrande Real Estate Group of fraudulent issuance of securities. According to the court, Xu was the actual controller of Evergrande Group, with overall responsibility for its operations. He managed and controlled Evergrande Real Estate Group and several other companies, with investments spanning real estate, property management, finance and other sectors.