China executes two businessmen for fraud: state media

1.44

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China executes two businessmen for fraud: state media

China executed two businessmen who defrauded more than 100 million dollars from investors, state media said on Wednesday.

Du Yimin, a businessman in southeast Zhejiang province, was convicted of defrauding 700 million yuan (102 million dollars/71 million euros) in a real estate scam offering monthly interest payments of up to 10 per cent.

He spent the money on houses, cars and luxury goods, the official Xinhua news agency said.

Si Chaxian made 167 million yuan from more than 300 people by promising them annual interest rates of between 18 and 108 percent, the agency reported.

Their illegal activities "had seriously damaged the country's financial regulatory order and social stability", and they should be punished in line with the law, China's Supreme People's Court ruled, according to Xinhua.

China annually executes more people than the rest of the world combined, with the nation last year putting to death more than 1,700 people out of a global total of almost 2,400, according to Amnesty International.

As China does not publish full data on the death penalty, rights groups say the numbers executed could be far higher.

China executes two businessmen for fraud: state media- Hindustan Times
 

afriend

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Yeah.. but execution is a bit too high of a punishment. These punishments exited for a long time. Still do you see any reduction to it. I guess they should be imprisoned for life or something or some very good part of their life should be taken away from them. This killings are really sad.
 

EnlightenedMonk

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Put yourself in the victim's shoes when your life savings vanish.
Oh sure, which offences carry the death penalty in China ??? I mean, according to their penal code (presuming they have one) ???

They execute people for rioting, cheating (from this offence), murder (obviously) and also adulteration (from the Milk scandal). I also presume the penalty is carried out in cases of bribery as well??? What about adultery??? Does that carry the death penalty too???

If I start putting myself in the victims' shoes, I'd surely be handing out death penalties for everything from pick-pocketing to terrorism and also everything in-between.
 

Adux

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I can guarantee you that "Koji" is not Japanese, 100% sure of it.
 

indian_blues

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When china eased out one child policy I thought they would give up their population reduction policy too, my bad.
 

Flint

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Well, the harsh punishments seem to be working in China.
 

Daredevil

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I can guarantee you that "Koji" is not Japanese, 100% sure of it.
Everyone else knows Koji is not japanese except Koji, he is in a strategic denial :D

Coming to topic on Hand, the execution is too harsh a punishment. Even madoff who has cheated american people in billions got just 130 yrs of prison.
 

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