Former billionaire Hui Ka Yan has been fined and faces being banned from the financial market for life. : Struggling Chinese property giant Evergrande and its founder, Hui Ka Yan, have been accused of inflating revenues by $78bn (£61.6bn) in the two years before the firm defaulted on its debt. The country's financial markets regulator has fined the company's mainland business Hengda Real Estate $583.5m. The China Securities Regulatory Commission (CSRC) laid much of the blame on Mr Hui, who was once China's richest man, for allegedly instructing staff to "falsely inflate" Hengda's annual results in 2019 and 2020.