Chinese Fund Managers Sentenced to Death after Cheating Investors out of 1 Billion USD

[Ichingcarpenter]

HANGZHOU – Two brothers and their father were sentenced to death on Monday for cheating 15,000 investors out of over $1.1 billion in east China’s Zhejiang province.

Ji Wenhua, president of the Yintai Real Estate and Investment Group, was sentenced to death for the crime of fund-raising fraud, said the Intermediate People’s Court in the city of Lishui, where the company was based.

However, his brother, Ji Shengjun, and father, Ji Linqing, could be spared execution as their death penalties have a two-year reprieve.

The family, along with others, had illegally raised over 7.04 billion yuan ($1.12 billion) between 2003 and 2008 before they were taken into police custody in 2008, holding the truth from investors that their company had been losing money for years, according to the court.

A third brother, Ji Yongjun, was sentenced to life imprisonment.



http://www.thechinamoneyreport.com/2011/11/10/chinese-fund-managers-sentenced-to-death-after-cheating-investors-out-of-1-billion-usd/

[provis99]

1. It might not be so bad if China takes over.

Just think of the people getting death sentences on Wall Street for their crimes.

[FreakinDJ]

7. Sad to see China "Out-Performing" the United States once again

[WildNovember]

2. Hey, didn't Michelle Bachmann say we should take capitalism tips from China?

Is this what she meant?

[Deep13]

3. How barbaric! The right thing to do...

...would be to grant them huge bonuses at the expense of the taxpayers and clients while letting them keep their jobs.

[socialindependocrat]

13. But that's the American way, isn't it??

How come you can rob a bank of $50,000 and get 10-20

But you rip of millions and you keep your job and get a bonus.

Somethin' ain't right!!!

Maybe if bank robbers dressed in a suit and tie
they would get lighted sentences!!

[JVS]

4. CHINESE JUSTICE!!!

I used to say it facetiously, but now I've come around!

[The Traveler]

5. If our banksters do not want to pay taxes

and thus do not want to pay for the privilege of being part of a thriving American society, let them move to China. I'm so tired of hearing the conservative whine ... they wanna live in an oligarchy. Kick their asses out and let 'em go live in one.

[aint_no_life_nowhere]

8. Rec +1

[Ghost Dog]

12. Impose a Tobin Tax,

then they say they will voluntarily fuck off somewhere else, if they can find anywhere to go. And don't let them back in even on a 'compassionate' family visit.

[Prometheus Bound]

6. I find this concept appealing.

I'm starting to worry about myself!

[Ichingcarpenter]

9. Me Too.. The US fines the companies less than the theft

most of the time and then no one goes to jail for the most part.

I'm anti death penalty BTW.

[Sherman A1]

10. Agreed, however just think of a lovely little Federal facility

in the Caribbean, featuring sun, sand and "water sports" for our errant CEO's.

Another possibility would be to offer them out to nations needing areas cleared of land mines. Given a sharp stick they could cross the suspected area with the desired goal of clearing the suspected mines through one means or "another".

[Ghost Dog]

11. A Devil's Island, yeah.

I really don't understand why the death penalty is seen by some to be a greater deterrent than long custodial sentences and some serious reeducation and possible rehabilitation.

[aquart]

16. Like Jack Abramoff?

[mmonk]

14. Death there, bonuses here.

[Pacifist Patriot]

15. Surely we can find a happy medium.

[Kaleko]

17. Half death by burying in money?

[mmonk]

19. Lots of room.

[dballance]

18. I Bet Bachman doesn't support emulating the Chinese on this point

[Sheepshank]

21. I don't know where her stand is on Death penalty

but if she's anything like the fundies I know, she'd be ok with it.

[Ichingcarpenter]

20. Henry Ford said and he was an asshole

It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.
Henry Ford

Read more: http://www.brainyquote.com/quotes/quotes/h/henryford136294.html#ixzz1eA1JrCiK

[Prometheus Bound]

22. Kick for a different perspective.