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

[Courtesy Flush]

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

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.

Don't interpret my post for support of the death penalty, but if other countries think this is a serious crime, can we at least have an investigation here?

[Philosopher King]

1. I do not support the death penalty either. However, I believe the US is far too lenient on some

types of crimes and far too harsh on others.

Bernie Madoff is serving 150 years for his misdeeds, but his sentence is an exception in the realm of financial crimes. Other crimes that should carry harsher penalties include Medicaid and Medicare fraud, political bribery, and election fraud. These types of crimes are ripping the fabric of our society to shreds and we need to adjust the punishments to match the seriousness of the crimes.

In order to make room for these real criminals, we should simply empty our jail cells of those who are serving time for victimless crimes like drug use.

[Ichingcarpenter]

2. This is a dupe

you have duped my stories for the third time.

[Courtesy Flush]

3. That's what happens when DUers are also Redditors. nt

[Ichingcarpenter]

4. Good DUers check for duplicates ... its there when you post.

on DU.....

[Courtesy Flush]

5. Rest assured.

I'm not lurking behind you, reposting your stuff. Maybe we are just DU soulmates. You know, "you owe me a Coke" kind of thing.

[sarcasmo]

8. Sounds like you have a stalker .

[banned from Kos]

6. Here we just imprison them - Stanford, Raj, Madoff, Ebbers, Kozlowski

hundreds more.

Your problem is you want innocent people convicted without a trial.

[dsc]

9. from Chris Hayes show this morning

financial crime prosecutions are at their lowest level in 20 years while other prosecutions have doubled in the same amount of time.

[Donald Ian Rankin]

10. Financial *regulations* have been horrifically relaxed.

The cause of the financial crisis was not people breaking the rules, but the rules being relaxed to the point where people obeying them caused problems.

[Name removed]

11. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Name removed]

7. Deleted message

Message removed by moderator. Click here to review the message board rules.