Posted on 08/06/2009 9:21:28 PM PDT by maccaca
China executed two business people for defrauding hundreds of investors out of more than $127-million (U.S.), calling the scam a serious blow to social stability, state media said Thursday. China puts to death more people than any other country, Though usually reserved for violent crimes, death sentences are also applied for nonviolent offences that involve large sums of money or are seen to threaten social order. The two were executed Wednesday. The report said Du Yimin, a beauty parlour owner from eastern Zhejiang province, collected more than 700 million yuan ($102.5-million) from investors by promising them monthly returns of up to 10 per cent. She spent most of the money on houses, cars and luxury items, Xinhua said. The second defendant, Si Chaxian, collected 167 million yuan from 300 people by saying they could receive interest of up to 108 per cent. Xinhua said 270 million yuan ($39.5-million) was still missing.
(Excerpt) Read more at theglobeandmail.com ...
China would line up our entire Congress against a wall and shoot them for defrauding America.
This will be an interesting test to see if the death penalty truly is a deterrent.
“China puts to death more people than any other country..”
But it is also the world’s most populated country. No?
What I fear is this almost always happens only when some powerful big shot falls out of favor with the state. Otherwise, said big shot can get away with murder.
These must have been 2 scammers WITHOUT Communist-Party connections.
Meanwhile, those who are still connected through relatives, friends, or simply good old bribery, are free to continue their rip-offs.
Yup. Communist thugocracy: coming to a country near you.
bttt
do you think madoff deserve a death sentence
It wouldn’t hurt my feelings. But, he will die in jail. Alone.
Giving new meaning to investor protection.
Their organs will live on.
What I fear is this almost always happens only when some powerful big shot falls out of favor with the state. Otherwise, said big shot can get away with murder.
Yes. Exactly.
Everyone forgets this is still Communist China....where favor with the party is still most important.
Just because they let some people practice capitalism does not mean they totally eschewed Communism.
bttt
Very effective against recidivism.
Send Madoff to China.
Giving new meaning to investor protection.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.