Chinese Woman Wu Ying will face Death for Financial Fraud, Martha Stewart still baking Cakes.

Wu Ying facing trial for financial fraud.

In 1979 China's "One child policy 1979"  officially restricted married, urban couples to one child, while allowing exemptions in several cases. More recently, the government has taken additional measures to control its "too damn big" population by turning regular jail-able crimes into death sentences.

Wu Ying, named China’s sixth richest woman in 2006, lost an appeal against her death sentence at the Zhejiang Higher People’s Court on January 18, 2012.

Ying, started a beauty parlor business that expanded into a large entertainment business and property investments company. Cash strapped and unable to get loans through regular channels, Ying raised capital through loan sharks and other "private" investors on the promise of high returns.

Wu Ying puts on a brave face in wake of her death sentence

The 30-year old Ying was first arrested in March 2007 and charged with “illegal fundraising” of RMB 770 million (approximately USD 122 million). In December 18, 2009, the charge was changed to “financial fraud”, and she was sentenced to death by the Jinhua Intermediate People’s Court. Ying lost her appeal of that sentence on January 18th 2012 and will be put to death at a date to be scheduled later.

A harsh outcome considering the fact that her total assets estimated to be in excess of RMB 3.6 billion exceed her total outstanding debt ~ she should pay it back and go to jail....and China should know that people do crap like this all the time

so why DEATH?

Flies on the wall suggest that the suspicious circumstances and the gravity of the sentence may be related to government officials trying to avoid implication in the fall out. Many government officials are suspected to be involved in receiving bribes, obtaining funds by illegal means and lending money to private businesses at predatory interest rates. During Wu’s detention, Wu exposed a list of 137 government officials who had illegally lent money to the tune of RMB 500,000. Three of those received lengthy jail sentences..

All I know is that if we sentenced people that committed financial fraud or raised capital through dubious means (slavery) to death, they'd be no western world, certainly no US and wall street would just be the proverbial death row. Martha Stewart committed a similar kind of financial crime and I saw her happily cooking on TV the other day? Baking butter pecan cake which is delicious but admittedly off topic. 

Category: News