China sentences man to death in ant breeding fraud case - GoFuckYourself.com

Sarah_Jayne · 02-15-2007, 06:31 AM

China sentences man to death in ant case

BEIJING - A Chinese business executive was sentenced to death for swindling $385 million from investors in a bogus ant-breeding scheme, a court official said Thursday.

Wang Zhendong, chairman of Yingkou Donghua Trading Group Co., had promised returns of up to 60 percent for buying kits of ants and breeding equipment from two companies he set up, the reports said.

Ants are used in some traditional Chinese medicinal remedies, which can fetch a high price. Wang sold the kits, which cost $25, for $1,300, the Xinmin Evening News and other newspapers reported.

Wang promoted his products through advertising and drew in more than 10,000 investors between 2002 and June 2005 when investigators shut down his companies, the Web site of People's Daily reported.

Prosecutors told the court in northeast China that one investor committed suicide after realizing he had been duped, and only $1.28 million of the swindled money had been recovered by the time the case was filed with the court last June, Xinhua News Agency said.

The Intermediate People's Court in Yingkou on Tuesday sentenced Wang to death, said an official in the court's case office who gave only his surname, Yin.

Fifteen managers of the company were given prison terms ranging from five to 10 years and fined from $12,800 to $64,000, Xinhua said.

Fake investments and pyramid investment schemes have become common during China's transition from a planned economy to a free market. Chinese leaders have tried to eradicate the scams, fearing widespread losses could add to already percolating social unrest.

The death penalty is used broadly in China. Though usually reserved for violent crimes, it is also applied for nonviolent offenses that involve large sums of money or are deemed to have a pernicious social impact.

http://news.yahoo.com/s/ap/20070215/...hina_ant_fraud

Phoenix · 02-15-2007, 06:38 AM

385 mill is no joke

Sarah_Jayne · 02-15-2007, 06:52 AM

but worth death?

Jakke PNG · 02-15-2007, 06:55 AM

Quote:

Originally Posted by sarah_webinc

but worth death?

Yeah.

Stealing someone's money can be just as devastating than some 'violent crime', someone even killed himself over being fucked over. I wish deathpenalty was used in online adult industry on people who steal too.

UKJack · 02-15-2007, 06:56 AM

probably a bit harsh I don't agree with the death penalty but that is their culture and an investor killed himself because of it

Klen · 02-15-2007, 06:59 AM

Quote:

Originally Posted by sarah_webinc

but worth death?

People are senteced there for stealing 5$,so this doesnt suprise me at all.

Brooke Anderson · 02-15-2007, 08:13 AM

Just think if a few key US Government people were put under laws like that. They would have to knock off like have the government! Vice President is the first that comes to mind.

StarkReality · 02-15-2007, 08:16 AM

Quote:

Originally Posted by TeenGodFather

I wish deathpenalty was used in online adult industry on people who steal too.

Would result in some impressive body count

Lazonby · 02-15-2007, 08:16 AM

Maybe he'll be killed in one of these.

http://www.dvorak.org/blog/?p=5754

bobby666 · 02-15-2007, 09:01 AM

therefore you never know what you'r really eating in an a chinish restaurant

lorine · 02-17-2007, 02:52 AM

Come on,the death penalty?I think they`re exaggerating. I`m against the death penalty although some people deserve it

Kimo · 02-17-2007, 04:47 AM

damn that is insane

E$_manager · 02-17-2007, 07:18 AM

I wonder if those severe punishments for stealing give the result in this country? Do they steal less that people in other countries?

xenilk · 02-17-2007, 08:55 AM

Holy shit that's fucked up.

Adultnet · 02-17-2007, 09:04 AM

thats just wrong..

stickyfingerz · 02-17-2007, 09:11 AM

Only in America.......

After Shock Media · 02-17-2007, 02:47 PM

They have no fear of the death penalty, they know they are always making more people.

Rigg · 02-18-2007, 03:09 PM

damn pretty harsh sentence just for that.

Splum · 02-18-2007, 03:11 PM

Quote:

Originally Posted by Brooke Anderson

Just think if a few key US Government people were put under laws like that. They would have to knock off like have the government! Vice President is the first that comes to mind.

I am assuming you do not mean that statement. Remember you are being watched.

Michaelious · 02-18-2007, 03:14 PM

Death penalty is a little harsh.

interracialtoons · 02-18-2007, 03:48 PM

The history of corruption in china is clear! The fall out from past fraud cost many lives from starvation, poverty etc... They started executing scammers a long time ago so everyone knows the rules.

The death penalty is harsh but the fall out from fraud in a country with a billion people is harsh enough to justify it.

People who criticise china should consider that laws and government that works great for 250 million people might not work at all to control more than a billion people and some drastic shit might need to happen to maintain control.

Fizzgig · 02-18-2007, 04:12 PM

Ants??!!!

@)}---'------
Fizzgig

02-15-2007, 06:31 AM	#1
Sarah_Jayne Now with more Jayne Industry Role: Join Date: Dec 2002 Location: Los Angeles Posts: 40,077	China sentences man to death in ant breeding fraud case China sentences man to death in ant case BEIJING - A Chinese business executive was sentenced to death for swindling $385 million from investors in a bogus ant-breeding scheme, a court official said Thursday. Wang Zhendong, chairman of Yingkou Donghua Trading Group Co., had promised returns of up to 60 percent for buying kits of ants and breeding equipment from two companies he set up, the reports said. Ants are used in some traditional Chinese medicinal remedies, which can fetch a high price. Wang sold the kits, which cost $25, for $1,300, the Xinmin Evening News and other newspapers reported. Wang promoted his products through advertising and drew in more than 10,000 investors between 2002 and June 2005 when investigators shut down his companies, the Web site of People's Daily reported. Prosecutors told the court in northeast China that one investor committed suicide after realizing he had been duped, and only $1.28 million of the swindled money had been recovered by the time the case was filed with the court last June, Xinhua News Agency said. The Intermediate People's Court in Yingkou on Tuesday sentenced Wang to death, said an official in the court's case office who gave only his surname, Yin. Fifteen managers of the company were given prison terms ranging from five to 10 years and fined from $12,800 to $64,000, Xinhua said. Fake investments and pyramid investment schemes have become common during China's transition from a planned economy to a free market. Chinese leaders have tried to eradicate the scams, fearing widespread losses could add to already percolating social unrest. The death penalty is used broadly in China. Though usually reserved for violent crimes, it is also applied for nonviolent offenses that involve large sums of money or are deemed to have a pernicious social impact. http://news.yahoo.com/s/ap/20070215/...hina_ant_fraud

02-15-2007, 06:38 AM	#2
Phoenix BACON BACON BACON Industry Role: Join Date: Nov 2002 Location: Poems everybody, the laddie fancies himself a poet Posts: 35,462	385 mill is no joke __________________ Skype Phoenixskype1 Telegram PhoenixBrad https://quantads.io

02-15-2007, 08:13 AM	#7
Brooke Anderson Confirmed User Join Date: Jan 2006 Location: Missouri, near Kansas City Posts: 346	Just think if a few key US Government people were put under laws like that. They would have to knock off like have the government! Vice President is the first that comes to mind. __________________ www.4realcash.com

02-15-2007, 09:01 AM	#10
bobby666 boots are my religion Join Date: Nov 2005 Location: Heart of europe Posts: 21,765	therefore you never know what you'r really eating in an a chinish restaurant __________________

02-17-2007, 02:52 AM	#11
lorine Confirmed User Join Date: Jan 2007 Posts: 994	Come on,the death penalty?I think they`re exaggerating. I`m against the death penalty although some people deserve it __________________ Lorine - ebony escort for sensitive gentlemen

02-15-2007, 06:52 AM	#3
Sarah_Jayne Now with more Jayne Industry Role: Join Date: Dec 2002 Location: Los Angeles Posts: 40,077	but worth death?

02-15-2007, 06:56 AM	#5
UKJack Confirmed User Join Date: Jan 2007 Posts: 139	probably a bit harsh I don't agree with the death penalty but that is their culture and an investor killed himself because of it

02-15-2007, 08:16 AM	#9
Lazonby Confirmed User Join Date: Feb 2006 Posts: 2,262	Maybe he'll be killed in one of these. http://www.dvorak.org/blog/?p=5754

02-17-2007, 04:47 AM	#12
Kimo ... Join Date: Jan 2006 Location: Maryland ICQ:87038677 Posts: 11,542	damn that is insane __________________ ...

02-17-2007, 07:18 AM	#13
E$_manager Too lazy to set a custom title Join Date: Apr 2006 Location: pink adult dreams Posts: 13,557	I wonder if those severe punishments for stealing give the result in this country? Do they steal less that people in other countries? __________________ Enjoy more sales with EnjoyBucks! Homemade: Asian : Ebony : GFs : Voyeur : Nudist : Public : 3D

02-17-2007, 08:55 AM	#14
xenilk Confirmed User Join Date: Jan 2006 Location: Canuck land! Posts: 921	Holy shit that's fucked up. __________________ 40$/Page PSD->XHTML/CSS Transformations

02-17-2007, 09:04 AM	#15
Adultnet Confirmed User Join Date: Sep 2003 Posts: 8,713	thats just wrong.. __________________ TrafficCashGold Paying Webmasters Since 1996! Awesome Conversions! Fast Weekly Payments! Over 125 Tours!

02-17-2007, 09:11 AM	#16
stickyfingerz Doin fine Industry Role: Join Date: Oct 2005 Posts: 24,984	Only in America.......

02-17-2007, 02:47 PM	#17
After Shock Media It's coming look busy Join Date: Mar 2001 Location: "Ph'nglui mglw'nafh Cthulhu R'lyeh wgah'nagl fhtagn". Posts: 35,299	They have no fear of the death penalty, they know they are always making more people. __________________ [email protected] ICQ:135982156 AIM: Aftershockmed1a MSN: [email protected]

02-18-2007, 03:09 PM	#18
Rigg Registered User Join Date: Sep 2006 Posts: 46	damn pretty harsh sentence just for that. __________________ http://hoflipper.com http://mrrigglashow.com.

02-18-2007, 03:14 PM	#20
Michaelious Confirmed User Join Date: Jan 2004 Location: Scotland Posts: 6,720	Death penalty is a little harsh. __________________

02-18-2007, 03:48 PM	#21
interracialtoons Confirmed User Join Date: May 2006 Posts: 1,910	The history of corruption in china is clear! The fall out from past fraud cost many lives from starvation, poverty etc... They started executing scammers a long time ago so everyone knows the rules. The death penalty is harsh but the fall out from fraud in a country with a billion people is harsh enough to justify it. People who criticise china should consider that laws and government that works great for 250 million people might not work at all to control more than a billion people and some drastic shit might need to happen to maintain control. __________________ Done.

02-18-2007, 04:12 PM	#22
Fizzgig Registered User Join Date: Feb 2004 Location: In Your Dreams Posts: 9,649	*Ants??!!!* @)}---'------ *Fizzgig* __________________ ---'-,-{@ Sassy Grrrl @}-'-,---