China executed a man for stealing 170 million yuan (HK$159

China executed a man for stealing 170 million yuan (HK$159.8 million) from investors, including 17 million yuan from a large charity foundation.
Lu Wanhua faced the firing squad after the No 1 People's Intermediate Court in Beijing turned down his appeal, according to the Beijing Youth Daily. The report did not give the date of the trial or execution.
Among Lu's many victims was the China Charity Federation, which he urged to invest in "several good projects", without going into detail. Lu promised investors a generous annual interest rate of 21 per cent to 23 per cent and the foundation gave him 10 million yuan in early 1996 and a second deposit of seven million yuan in July 1996.
Lu did not pay the promised interest and withdrew the money himself using a fake authorisation stamp in July and August 1996, according to prosecutors.
The scam was discovered in March 1997 by a federation auditor.