a company owner was sentenced to death for swindling...

a company owner was sentenced to death for swindling 33.27 million yuan ($US4.8 million) from illegal fund-raising in east China's Jiangsu Province. Xu Guancheng, who set up Beijing Guancheng Company in 2003 and Nanjing Guancheng Company in 2004, was sentenced to death with a two-year reprieve. He was found to have fabricated high returns and swindled 33.27 million yuan from 829 people from Jan. 2004 to March 2005, a Nanjing Municipal Intermediate People's Court Ruling said. All of his wealth was confiscated. His accomplice, Xu Guanqing, was jailed for life and Ma Rumei, chief financial officer of the company, was jailed 15 years and fined 500,000 yuan.