Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
D.C.
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Mass.
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
N.Carolina
N.Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
S.Carolina
S.Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
W.Virginia
Wisconsin
Wyoming
Law Firm Website Design Companies : The Good, The Bad, and The Ugly

China Upholds Death for Ant Fraudster

  International  -   POSTED: 2008/02/03 15:23

A court in northeastern China upheld a death sentence Monday against a businessman accused of bilking investors in a would-be ant-breeding scheme, state media reported.

The Liaoning Provincial Higher People's Court turned down an appeal from Wang Zhendong, who was convicted of fraud and sentenced to death last February, the official Xinhua News Agency reported.

Wang, chairman of Yingkou Donghua Trading Group Co., had promised returns of up to 60 percent for investors who purchased ant-breeding kits from two companies he ran.

The insects were to be used in traditional medicinal wines, herbal remedies and aphrodisiacs.

Authorities, concerned about social unrest, have come down hard on fake investments and pyramid schemes, although Wang's sentence was harsh even by Chinese standards.

Communist leaders have sought to make examples out of businessmen and officials accused of fraud and corruption, and last year executed the former head of its food and drug watchdog for approving untested medicine in exchange for cash.

Wang attracted more than 10,000 investors between 2002 and June 2005, when investigators shut down his companies. The closure of his business set off a panic among small-time players who saw their life savings disappear overnight.

Investigators put the size of the fraud at $416 million. Only $1.28 million was recovered. Fifteen managers of the company were also fined and sentenced to prison terms ranging from five to 10 years.


Legal News | Breaking News | Terms & Conditions | Privacy

ⓒ Breaking Legal News. All Rights Reserved.

The content contained on the web site has been prepared by BLN as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case. Affordable law firm web design company
   More Legal News
   Legal Spotlight
   Exclusive Commentaries
   Attorney & Blog - Blog Watch
   Law Firm News  1  2  3  4  5  6 
   Lawyer & Law Firm Links
Car Accident Lawyers
Sunnyvale, CA Personal Injury Attorney
www.esrajunglaw.com
Family Law in East Greenwich, RI
Divorce Lawyer, Erica S. Janton
www.jantonfamilylaw.com
Oregon DUI Law Attorney
Eugene DUI Lawyer. Criminal Defense Law
www.mjmlawoffice.com
New York Adoption Lawyers
New York Foster Care Lawyers
Adoption Pre-Certification
www.lawrsm.com
Chicago, Naperville IL Workers' Compensation Lawyers
Chicago Workplace Injury Attorneys
www.krol-law.com
Raleigh, NC Business Lawyer
www.rothlawgroup.com
Lorain Elyria Divorce Lawyer
www.loraindivorceattorney.com
Connecticut Special Education Lawyer
www.fortelawgroup.com
Los Angeles Immigration Documents Service
New Vision Immigration
www.immigrationnew.com
St. Louis Missouri Criminal Defense Lawyer
St. Charles DUI Attorney
www.lynchlawonline.com
   More Legal News  1  2  3  4  5  6
   Legal News Links
  Click The Law
  Daily Bar News
  The Legal Report
  Legal News Post
  Crisis Legal News
  Legal News Journal
  Korean Web Agency
  Law Firm Directory