China: Why is Hui, once Asia’s richest businessman, in trouble?

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Hui Ka Yan, founder and chairman of Evergrande, one of China’s largest property companies, was once the richest person in Asia.

The 64-year-old businessman is also known as Xu Jiayin. Born in a modest family, Shu later took command of a huge business empire.

In 2017, when Forbes magazine declared him the richest person in Asia, his wealth was estimated at $42.5 billion.

Now his company has a debt of 300 billion dollars and his company is being investigated for suspected criminal activities.

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