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Death by giant ant!


Dave
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Ouch.

 

http://news.bbc.co.uk/1/hi/world/asia-pacific/6365123.stm

 

Chinese man to hang for ant scam

 

A Chinese company chairman has been sentenced to death for running a scam involving giant ants.

 

Wang Zhendong promised investors returns of up to 60% if they put money into the fictitious ant-breeding project, the court heard.

 

Wang, from Liaoning province, raised 3bn yuan ($390m; £200m) in three years, prosecutors said.

 

Fifteen other staff members were fined and given jail terms of between five and 10 years.

 

More than 10,000 investors signed 100,000 contracts with the company before the case was investigated in June 2005, Xinhua news agency reported.

 

Only 10m yuan was recovered before the case was brought to court, it said.

 

One investor committed suicide after realising he had been duped, according to the court.

 

Wang's actions also caused huge economic losses for investors and many subsequently suffered from depression, it added.

 

Ants are used in traditional medicines and remedies in parts of China.

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Who the hell will pay money for a project to grow giant ants :lol:

 

Edit: This is the first time i hear about someone getting the death penalty because of a scam/fraud..i.e even in Saudi Arabia they just cut your hand and let you go,if your lucky you might reach the nearst hospital and have it put back again (jk about the last part,but they do cut your hand)

 

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Who the hell will pay money for a project to grow giant ants :lol:

 

Edit: This is the first time i hear about someone getting the death penalty because of a scam/fraud..i.e even in Saudi Arabia they just cut your hand and let you go,if your lucky you might reach the nearst hospital and have it put back again (jk about the last part,but they do cut your hand)

 

 

Well it is, ostensibly, a communist nation, so it's not that unreasonable! :icon_geek:

 

Just imagine if the Enron board had faced capital charges, or that bloke who crashed Barings Bank... I'm a lefty from way back, so I've got absolutley no problem with executing white collar criminals. When the revolution comes they're all going to get it anyway :lol:

 

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Who the hell will pay money for a project to grow giant ants :lol:

 

Edit: This is the first time i hear about someone getting the death penalty because of a scam/fraud..i.e even in Saudi Arabia they just cut your hand and let you go,if your lucky you might reach the nearst hospital and have it put back again (jk about the last part,but they do cut your hand)

 

 

Well it is, ostensibly, a communist nation, so it's not that unreasonable! tongue.gif

 

Just imagine if the Enron board had faced capital charges, or that bloke who crashed Barings Bank... I'm a lefty from way back, so I've got absolutley no problem with executing white collar criminals. When the revolution comes they're all going to get it anyway :lol:

 

 

 

Execute away my friend....We worry about the details later... :lol: mackems.gif

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Cant believe he will die for this, hardly fair is it

 

Stealing 200m quid, resulting in at least one suicide - not fair he be executed for it? Care to elaborate?!?

 

Not fair is China executing Falung Gong members for their beliefs. Like I said above, I've absolutely no qualms with this capital punishment

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