CHINA. WOMAN SENTENCED TO DEATH FOR EMBEZZLEMENT

Yu Hu, female, was sentenced to a provisional death penalty in Beijing, charged with embezzling more than 16 million yuan (US$2 million) from more than 180 people. Yu had been charged with illegally raising funds after persuading victims to hand over their savings for investment in stocks, among other future markets. To strengthen her credibility, Yu assured investors she was university-trained in finance, though her schooling ended in middle school. Yu guaranteed annual interest rates of between 12 per cent and 30 per cent, a figure which lured a number of unsuspecting victims to entrust her with their life savings. Altogether Yu collected more than 35 million yuan (US$3.6 million) between 1997 and 2003, investing a minimal portion into the stock market. Yu claimed she returned approximately 19 million yuan (US$2.3 million) to investors in interest collected on the funds. "I never intended to keep the money," argued Yu after the sentencing in Beijing's No. 2 Intermediate People's Court.