CHINA: TYCOON JAILED AFTER DEATH SENTENCE REVOKED
A former Chinese tycoon who was convicted of illegally raising money for her business has been sentenced
A former Chinese tycoon who was convicted of illegally raising money for her business has been sentenced to prison after China's supreme court overturned a death sentence following a public outrcy.
The Zhejiang Province High People's court said Wu Ying was sentenced to death with a two-year reprieve. Such penalties usually are commuted to long prison terms if the convict is deemed to have reformed.
Wu became famous for rising from poverty to build a multimillion-dollar business. She was later convicted of illegally raising 770 million yuan ($120 million) from investors in 2005-07 and sentenced to death.
That penalty prompted an outcry on Internet bulletin boards by supporters who said it was too severe.
The Zhejiang Province High People's court said Wu Ying was sentenced to death with a two-year reprieve. Such penalties usually are commuted to long prison terms if the convict is deemed to have reformed.
Wu became famous for rising from poverty to build a multimillion-dollar business. She was later convicted of illegally raising 770 million yuan ($120 million) from investors in 2005-07 and sentenced to death.
That penalty prompted an outcry on Internet bulletin boards by supporters who said it was too severe.
— SOURCES
- (Sources: Associated Press, 21/05/2012)