March 20, 2007
Economic Crime Punishable by Death in China
In China's new economy, financial frauds that harm small investors are taken seriously. The Washington Post reports on the case of Wang Zhedong, who is sentenced to death for selling ant farms that he said contained valuable ants (used for medicinal purposes) for about $1300, when they were worth closer to $25. See WPost, Ant Fraud Yields Death Sentence.
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The scariest thing about China is that there are various business law violations that can be considered criminal in China, that would virtually never be considered that way in the US or England. And, of course, these laws apply equally to foreigners.
Posted by: China Law Blog | Mar 20, 2007 11:21:13 AM