China airport executive sentenced to death

[Doctor Cynic]

Source: Market Watch

HONG KONG (MarketWatch) -- A Chinese court has sentenced the former chairman of a state-owned holding company overseeing 30 airports, including Beijing International, to death for bribery and embezzlement amounting to more than 100 million yuan ($14.6 million), according to a report late Tuesday by the state-run Xinhua News Agency.

The Jinan Intermediate People's Court found Li Peiying, 59, former chairman and general manager of Capital Airports Holding Co., guilty of seeking or accepting bribes totaling 26.61 million yuan during an eight year period from 1995, the report said.

Li was also found guilty of misappropriating 82.5 million yuan in funds for personal use during a three-year period from 2000.

In handing down its sentence, the court said Li's actions had resulted in large economic losses for that nation and that the amounts involved were extraordinary.

Read more: http://www.marketwatch.com/news/story/China-airport-executive-sentenced-death/story.aspx?guid={75598367-52B9-4AC4-84F4-A5274DB09937}&dist=SecMostRead

[Richard Steele]

1. If those judges were overseeing US courts, we wouldn't be in a DEPRESSION today.

It's a fact.

[regnaD kciN]

2. Maybe, but I don't like the idea...

...of death sentences for crimes other than murder or high treason.

[aquart]

3. But it was murder and high treason.

That's what so many of you don't get. Americans are going to die because of this. And our country is substantially weaker. No enemy could have done more.

[bird gerhl]

4. Maybe if there were more *legally* retarded people working in finance...

[Richard Steele]

11. I don't "like" it much myself, Nick....

But it needs to be done.

[HopeHoops]

8. No, in America, the guy would get a multi-million bonus.

[JVS]

13. AMEN!

[rpannier]

5. The guy was obviously not in with the right crowd

Corruption is so widespread in China.
If you're in with the right people you get away with it.
If you're not -- you wind up like this guy -- made an example of

[Ikonoklast]

7. One way of eliminating political competition.

I'm fairly certain that everyone knew this was going on, as that is how China works.

He pissed off a powerful enemy, and will pay the price.

Kill one, warn a thousand.

[Mithreal]

6. Wonder what China thinks of how we pamper our corporate criminals? nt

[Titonwan]

9. Hanky-Bernanke found guilty of fraud against U.S.

Executions will be conducted tomorrow at 8:00 Eastern Time on C-Span.
Method of death- yanked apart by big block chevy one ton trucks.
Complicit CEO's will be subject to launching by trebuchet and/or catapult into brick wall (per suggestion of George Carlin).
Tax cheats Geitner and Daschle will have credit card hand smashed on anvil with 16 pound sledge.
Time to get medieval, folks. THEY are.

[Wizard777]

10. Does this man make millions upon million with millions in bonuses?

I just don't understand how American CEO's justify their obscene compensations. In China the CEO's put their lives on the line with their business plans. Here in America our CEO's just put our tax dollars on the line with their business plans. I think we should follow China's example and execute CEO's for their improprieties. If we did this we wouldn't have to worry about nearly as many bailouts. We wouldn't have CEO flying into DC on luxury jets to ask the government for more money like they were college kids that just had their credit card cut up. Just like those college kids that get bailed out by Mom & Dad. The very first thing the CEO's do with the money is throw a kegger for the executives. Screw all that! Just execute their greedy asses. It will be a cold day in hell before you see another executive in DC with his hand out looking for money to cover his improprieties.

[JVS]

12. Chinese Justice!

:headbang: