A Shenzhen court has sentenced former Evergrande tycoon Hui Ka Yan to life in prison for large-scale fraud, confirming the end of the property market saga.

China Evergrande founder Hui Ka Yan has been sentenced to life in prison for large-scale fraud by a Shenzhen intermediate people's court.

The Shenzhen Intermediate People's Court sentenced Evergrande founder Hui Ka Yan to life in prison, confiscated his property, and issued billions in corporate fines following large-scale financial fraud.